Jim Berlin Of Logistics Plus Inc Leases 1000000 Square Feet Industrial Space In Millstone Township
505 New Jersey Highway 33
Building Size
1,000,000 SF
Asset Type
Industrial
Closing
Mar 17, 2025
AI
The transaction involves a lease of an industrial asset located at 505 New Jersey Highway 33 in Millstone Township. The property encompasses a significant area of 1,000,000 square feet, catering to industrial needs. The lease date is set for March 17, 2025.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 505 New Jersey Highway 33
- Market: Millstone Township
- Square Feet: 1,000,000
- Tenant: Jim Berlin - Logistics Plus Inc
- Landlord: Michael Levy & Clark Machemer - Crow Holdings Development
- Tenant's Representatives: Andrew Crites (Newmark), Art Leichner (Newmark), Kyle Eaton (Newmark)
- Landlord's Representatives: Robert (Rob) Kossar (JLL), Nate Demetsky (JLL), Leslie Lanne (JLL)
This transaction features key representatives from both the tenant and landlord sides, with Jim Berlin representing Logistics Plus Inc. on the tenant side, while the landlord, Crow Holdings Development, is represented by Michael Levy and Clark Machemer. The brokerage firms involved include Newmark for the tenant and JLL for the landlord, highlighting the professional collaboration in this industrial lease agreement.
Players
Perrineville 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