Updated Dec 4, 2024
Hartz Mountain Industries Leases 109200 Square Feet To Johnstone Supply And Cavalier Logistics In Cranford
740 Walnut Avenue
Building Size
109,200 SF
Asset Type
Industrial
Closing
Sep 19, 2024
About this deal
AI
The property involved in this transaction is located at 740 Walnut Avenue, Cranford. It is an industrial asset consisting of 109,200 square feet designated for logistics and warehouse use. Hartz Mountain Industries is the landlord for this lease agreement.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 740 Walnut Avenue
- Market: Cranford
- Asset Size: 109,200 square feet
- Landlord: Hartz Mountain Industries
- Tenants: Johnstone Supply & Cavalier Logistics
- Brokers: Charlie Reese & Stephen Benoit - Hartz Mountain Industries
The deal involves tenants Johnstone Supply and Cavalier Logistics, who have signed leases for the outlined logistics space. Additionally, the entire Phase 1 of the building is fully preleased prior to the completion of construction.
On the Map
Industrial
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Players
Cranford 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