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68 Veronica Avenue

G&P Sports World Inc. Leases 5,000 SF Industrial Space At 68 Veronica Ave., Somerset
LEASEDIndustrial

G&P Sports World Inc. Leases 5,000 SF Industrial Space At 68 Veronica Ave., Somerset

68 Veronica Avenue

Building Size

5,000 SF

Asset Type

Industrial

Closing

Dec 6, 2023

AI

G&P Sports World Inc. has leased a 5,000-square-foot space at 68 Veronica Ave. in Somerset. The industrial property is located within a 50,000-square-foot building and offers 10 tailboards and 22-foot ceiling heights. It is conveniently situated near Routes 27, 1, and 130, as well as Exit 9 of the New Jersey Turnpike.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not available
  • Address: 68 Veronica Avenue
  • Market: Somerset
  • Square Footage: 5,000

The lease was facilitated by Bussel Realty Corp., represented by Anthony Mircovich and Steve Jaynes. The transaction involved G&P Sports World Inc. as the tenant and AK3 Imports, owned by Anita Ivaturi, as the landlord.

Players

Steve Jaynes

Bussel Realty

Broker

$18.5M

vol

8 deals

Broker

Somerset 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