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:
- Property Type: Industrial
- Transaction Amount: Not specified
- Tenant: ASA Apple Inc.
- Tenant's Rep: Richard Mirliss (P & M Advisors)
- Landlord: ProLogis
- Landlord's Rep: Thomas Monahan (CBRE)
- Square Feet: 181,000
- Market: Linden
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.
Linden Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
Loading comparables…
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