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55 Wildcat Way, Linden, NJ,...

Colliers Secures 181,000 SF Industrial Lease For ASA Apple Inc. In Linden
LEASEDIndustrial

Colliers Secures 181,000 SF Industrial Lease For ASA Apple Inc. In Linden

55 Wildcat Way, Linden, NJ, 07036

Building Size

181,000 SF

Asset Type

Industrial

Closing

Nov 22, 2023

AI

Located at 55 Wildcat Way in Linden, NJ 07036, the industrial property leased by ASA Apple Inc. spans 181,000 square feet. The asset, serving as an expansion of the transportation and logistics solutions firm's regional distribution operations, fulfilled specific geographic requirements for the tenant, including proximity to the NJ Turnpike and adequate trailer parking. The property owner, ProLogis, facilitated the lease, ensuring a modern construction that met ASA Apple's operational needs.

Summary of transaction details:

Colliers International NJ LLC Inc. played a crucial role in the lease agreement, with Richard Mirliss, Richard J. Madison, and Alex Vitro representing ASA Apple Inc. in the site search and negotiation process. Meanwhile, CBRE's Tom Monahan acted as the agent for the property owner, ProLogis. ASA Apple Inc., a public warehouse and intermodal transportation company specializing in overseas traffic coordination, found the location ideal for its operations, enhancing its presence in the Port of New York region.

Players

Thomas Monahan

CBRE

Broker

$83M

vol

11 deals

Broker
Prologis
PrologisBrokerage
Prologis
PrologisLandlord

Linden 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