Albert Malgrans Leases Industrial Property At 74 Carter Drive In Edison With Landlord Wick Companies
74 Carter Drive
Building Size
80,250 SF
Asset Type
Industrial
Closing
Jan 24, 2024
AI
An industrial property located at 74 Carter Drive in Edison has been leased in a long-term agreement. The property spans across 80,250 square feet, making it a spacious asset in the market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not available
- Address: 74 Carter Drive, Edison
- Tenant: Albert Malgrans - Roca Tile
- Landlord: Wick Companies
- Brokers: Chad Hillyer, Jake Westfall, Kate Granahan, Kevin Dudley, Nicholas Klacik, and Tristan Askew - CBRE
- Lease Term: Long-term
The lease deal was facilitated by the CBRE team, comprising of brokers Chad Hillyer, Jake Westfall, Kate Granahan, Kevin Dudley, Nicholas Klacik, and Tristan Askew. Roca Tile, represented by Albert Malgrans, will occupy the industrial space at 74 Carter Drive.
Players
Edison 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