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600 Commerce Boulevard

Cresa Represents Russo Development In 249640 Square Foot Data Center Lease In Carlstadt
LEASEDIndustrial

Cresa Represents Russo Development In 249640 Square Foot Data Center Lease In Carlstadt

600 Commerce Boulevard

Building Size

249,640 SF

Asset Type

Industrial

Closing

Mar 16, 2026

AI

The property asset involved in this transaction is a 249,640-square-foot industrial facility located at 600 Commerce Boulevard in Carlstadt, New Jersey. The asset, built in 2008 and continuously upgraded, serves as a full-building data center and features enterprise-grade infrastructure, making it suitable for high-demand operations.

Summary of transaction details:

Cresa represented Russo Development in this lease transaction with a confidential tenant. The Meadowlands property is strategically situated near New York City, enhancing its value in one of the nation’s top data center markets.

Players

Sumner Putnam

Newmark

Broker

1 deal

Broker
RD
Russo DevelopmentLandlord

Carlstadt 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