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410 Allen Street

Castle & Brothers Logistics Leases 14,000 SF At 410 Allen Street Elizabeth From S&H Development
LEASEDIndustrial

Castle & Brothers Logistics Leases 14,000 SF At 410 Allen Street Elizabeth From S&H Development

410 Allen Street

Building Size

Asset Type

Industrial

Closing

Feb 5, 2025

AI

410 Allen Street is an industrial property located in Elizabeth, featuring a total size of 67,000 square feet. The property has 24-foot ceilings and tailboard loading facilities. Currently, 24,500 square feet is available for lease, with convenient access to major highways and Port Newark/Elizabeth.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not disclosed
  • Address: 410 Allen Street
  • Market: Elizabeth
  • Landlord: S&H Development
  • Tenant: Castle & Brothers Logistics
  • Brokers: Benito Abbate, James Friel & Jordan Metz - Bussel Realty
  • Square Footage Leased: 14,000 SF
  • Total Available Space: 24,500 SF

Benito Abbate, James Friel, and Jordan Metz represented both the tenant, Castle & Brothers Logistics, and the landlord, S&H Development, in this leasing transaction. This collaborative effort showcases the involvement of Metz Industrial Group of BRC in facilitating the deal.

Players

Jordan Metz

Bussel Realty

Broker

$140.7M

vol

38 deals

Broker

Elizabeth Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93