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:
- Property Type: Industrial
- Transaction Amount: Confidential
- Address: 600 Commerce Boulevard
- Market: Carlstadt
- Landlord: Russo Development
- Brokers: Michael Morris, Sumner Putnam, Kensey Gawne & Matt Deutsch - Cresa
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
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