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720 South Front Street

Twenty Four 7 Contracting Leases 213806 Square Feet At 720 South Front Street In Elizabeth
LEASEDIndustrial

Twenty Four 7 Contracting Leases 213806 Square Feet At 720 South Front Street In Elizabeth

720 South Front Street

Building Size

213,806 SF

Asset Type

Industrial

Closing

Jul 15, 2024

AI

The property asset involved in this transaction is an industrial facility located at 720 South Front Street in Elizabeth, NJ. The building encompasses 213,806 square feet and is situated on an 11-acre lot. Its strategic positioning provides convenient access to New Jersey Turnpike Exit 13 and Port Newark-Elizabeth.

Summary of transaction details:

This lease transaction was facilitated by brokers from The Blau & Berg Company and Lee & Associates – WBE LLC, demonstrating effective collaboration in representing both the landlord and the tenant. The tenant, Twenty Four 7 Contracting, specializes in commercial furniture installation.

Players

Michael Schaible

Lee & Associates

Broker

$16.5M

vol

5 deals

Broker

Elizabeth 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