Updated Dec 4, 2024
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
About this deal
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
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