facebook

traded

+ Submit
Home

/

Deals

/

New Jersey

/

Industrial

/

Lease

/

5901 Tonnelle Ave, North Be...

First Transit Leases 72,000 SF Industrial Space In North Bergen With Lee & Associates
LEASEDIndustrial

First Transit Leases 72,000 SF Industrial Space In North Bergen With Lee & Associates

5901 Tonnelle Ave, North Bergen, NJ...

Building Size

72,000 SF

Asset Type

Industrial

Closing

Nov 22, 2023

AI

Located at 5901 Tonnelle Ave, in North Bergen, NJ, the industrial property spans 72,000 square feet. This space will serve as a van depot for First Transit, enabling the transportation company to cover Bergen County and parts of Passaic County.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not provided
  • Market: North Bergen
  • Tenant's Rep: Scott Deutchman (Lee & Associates)
  • Landlord: Realterm
  • Square Feet: 72,000

Representing First Transit in the lease with Realterm, Scott Deutchman of Lee & Associates New Jersey played a key role in securing this property for the expansion of the transportation company's operations. This marks the third successful transaction where Deutchman has represented First Transit in arranging suitable industrial spaces for their specific needs in northern New Jersey.

Players

Scott Deutchman

Lee & Associates

Broker

2 deals

Broker
R
RealtermLandlord

North Bergen 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