H.N. International Group Leases Industrial Space In Somerset With NAI-DiLeoBram Rep
72 Veronica Avenue
Building Size
15,000 SF
Asset Type
Industrial
Closing
Apr 16, 2024
AI
The industrial property located at 72 Veronica Avenue in Somerset spans 15,000 square feet. This property is part of the Franklin Technical Center and strategically situated between Princeton and Rutgers universities. Zoned for medium industrial uses, the space consists of three units within an industrial/flex building.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 72 Veronica Avenue
- Market: Somerset
- Tenant: H.N. International Group
- BROKER: Christopher Galiano - NAI-DiLeoBram and Co.
Christopher Galiano from NAI-DiLeoBram and Co. represented H.N. International Group in securing the lease at 72 Veronica Ave. This wholesale home-textiles operator entered into an agreement for the three units within the industrial/flex building, benefiting from the property's prime location.
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