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
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