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
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