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:
- Property Type: Industrial
- Transaction Amount: Not Disclosed
- Tenant: Twenty Four 7 Contracting
- Landlord's Representative: Alessandro Conte, Jason Crimmins & Peter Murano - The Blau & Berg Company
- Tenant's Representative: Michael Schaible - Lee & Associates
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
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