Tenant John Donnelly Represents Lease Of 115000 Square Feet At 425 Gotham Pkwy Carlstadt
425 Gotham Pkwy, Carlstadt, NJ, 07072
Building Size
115,000 SF
Asset Type
Industrial
Closing
Nov 20, 2023
AI
The property asset involved in this transaction is located at 425 Gotham Pkwy, Carlstadt, NJ, 07072. It is a 115,000-square-foot facility owned by an institutional investor advised by J.P. Morgan Asset Management, specifically designed to house distribution operations for Tribeca Oven, Inc. The facility plays a crucial role in the wholesale artisan bread manufacturer’s operations in the Meadowlands market.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Address: 425 Gotham Pkwy, Carlstadt, NJ, 07072
- Market: Carlstadt
- Tenant's Representative: John Donnelly from Colliers International
- Landlord: Unknown Institutional Investor
- Square Feet: 115,000
John Donnelly co-brokered the long-term renewal of the lease for Tribeca Oven with Jeff Miller from JLL, representing Tribeca Oven’s parent company, C.H. Guenther & Son Inc. The seamless lease renewal process involved significant collaboration between all parties, including Brian Golden from JLL, who served as the landlord representative for both properties involved in the deal.
Players
Carlstadt 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