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
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