Z Brothers Express Inc. Leases 49300 Square Feet From RIM Logistics Ltd. In Elizabeth NJ
560 Bercik St, Elizabeth, NJ, 07201
Building Size
49,300 SF
Asset Type
Industrial
Closing
Nov 19, 2023
AI
The property involved in the transaction is located at 560 Bercik St, Elizabeth, NJ, 07201. It consists of 49,300 square feet of industrial space within a 143,756-square-foot, Class A industrial building. The facility, spanning 6.4 acres, contains features such as nine tailgates, one drive-in door, and a clear height of 30 feet.
Summary of transaction details:
- Property Type: Industrial Sublease
- Transaction Amount: Not specified
- Landlord: RIM Logistics Ltd.
- Tenant: Z Brothers Express Inc.
- Landlord's Rep: Eric Demmers-NAI Capital
- Tenant's Rep: Rubicon Representation
- Market: Elizabeth
Eric Demmers and Russell Verducci of NAI James Hanson represented the sub-landlord, RIM Logistics Ltd., while Rubicon Representation acted on behalf of Z Brothers Express Inc. in the lease negotiations.
Players
Elizabeth 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