Piece Of Cake Moving & Storage Leases Industrial Space In Millburn For Operations
70 East Willow Street
Building Size
53,500 SF
Asset Type
Industrial
Closing
May 13, 2024
AI
The industrial property at 70 East Willow Street in Millburn spans 53,500 square feet, featuring 4,000 square feet of offices, 16-foot ceilings, 10 tailboards, and heavy power. Situated on 2.3 acres, the property is strategically located near Interstate 78 and the New Jersey Turnpike.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: Not provided
- Address: 70 East Willow Street
- Market: Millburn
- Landlord: Binyan Realty Corp.
- Tenant: Voyo Popovic - Piece of Cake Moving & Storage
David Blitt and Steve Bussel from Bussel Realty represented the landlord, Binyan Realty Corp., in the lease transaction. On the other hand, Piece of Cake Moving & Storage was represented by Pinn Realty. The tenant, Voyo Popovic, aims to enhance their services for clients within the New York tri-state region with this 53,500 square feet lease.
Players
Millburn 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