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60 Milltown Rd Union, NJ 07...

Rise Against Hunger Signs 11,500-Square-Foot Lease In New Jersey
LEASEDIndustrial

Rise Against Hunger Signs 11,500-Square-Foot Lease In New Jersey

60 Milltown Rd Union, NJ 07083, USA

$17

$17/SF

Building Size

11,500 SF

Asset Type

Industrial

Closing

May 10, 2023

AI

Rise Against Hunger, a global hunger relief organization, has signed a lease for an 11,500-square-foot facility in Union, New Jersey, according to STRO Cos, the property owner. The new location will serve as a central hub for storing supplies and meals, as well as coordinating with local groups involved in meal packaging. It offers excellent connectivity to the New York metro area.

Summary of transaction details

  • Property Type: Lease
  • Transaction Date: May 10, 2023
  • Property Address: New Jersey
  • Landlord's Representative: Not provided
  • Tenant's Representative: Joel Tomlinson - Tim Farley
  • Asking Rent: $17 per sq ft.

The lease deal was facilitated by brokers Joel Tomlinson and Tim Farley, who represented Rise Against Hunger in the transaction.

Players

Joel Tomlinson

Silbert Realty & Management Company

Broker

1 deal

Broker

New Jersey 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

933117.65%

Cash-on-Cash

-266687.89%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93