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456 Hollywood Avenue

EquipmentShare Leases 11.5K SF Industrial Space At 456 Hollywood Ave, South Plainfield
LEASEDIndustrial

EquipmentShare Leases 11.5K SF Industrial Space At 456 Hollywood Ave, South Plainfield

456 Hollywood Avenue

Building Size

11,500 SF

Asset Type

Industrial

Closing

Oct 23, 2023

AI

Construction tech firm EquipmentShare has leased an 11,500-square-foot industrial space located at 456 Hollywood Ave in South Plainfield. The property offers ample parking and storage space, as well as convenient access to major highways, making it an ideal location for the company's expansion in northern New Jersey.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: Lease
  • Address: 456 Hollywood Avenue, South Plainfield
  • Market: South Plainfield
  • Square Footage: 11,500 SF

Eric Shalek and Marcus Partners, represented by Paul Marcus, are the landlords of the property. EquipmentShare, represented by Jabbok Schlacks, is the tenant. The deal was facilitated by Cushman & Wakefield, serving as the landlord's representative. The tenant was represented by Benito Abbate and Jordan Metz from Bussel Realty.

Players

Jordan Metz

Bussel Realty

Broker

$140.7M

vol

38 deals

Broker
Eric Shalek

Eric Shalek

Marcus Partners

Landlord

$115.4M

vol

6 deals

Landlord
E
EquipmentShareTenant

South Plainfield 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