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70 East Willow Street

Piece Of Cake Moving & Storage Leases Industrial Space In Millburn For Operations
LEASEDIndustrial

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

Steve Bussel

Bussel Realty

Broker

$44.7M

vol

9 deals

Broker

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