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425 Gotham Pkwy, Carlstadt,...

Tenant John Donnelly Represents Lease Of 115000 Square Feet At 425 Gotham Pkwy Carlstadt
LEASEDIndustrial

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

John Donnelly

Broker

$70M

vol

4 deals

Broker
UI
Unknown Institutional InvestorLandlord

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