Inez Shoes Signs 5-Year Lease For 6,500 SF Industrial Space In Jersey City
86 Forrest Street
$17
$17/SF
Building Size
6,500 SF
Asset Type
Industrial
Closing
Mar 10, 2023
AI
Located at 86 Forrest Street in Jersey City, this industrial property was recently leased by Vreeland Projects to Inez Shoes. The lease term is set for 5 years, with an option to renew. The property spans approximately 6,500 square feet, offering ample space for the tenant's operations.
Summary of transaction details
- Property Type: Industrial
- Asking Rent: $17 per square foot
- Size: 6,500 square feet
- Lease Term: 5 years + option
Representing the parties involved in this deal was Gregory D. Edgell from Grid Real Estate. As the broker for Inez Shoes, Gregory facilitated the lease agreement, ensuring favorable terms for his client. This transaction highlights the strong collaboration between Vreeland Projects and Inez Shoes, enabling the tenant to establish a presence in the thriving Jersey City market.
Market 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
933117.65%
Cash-on-Cash
-266687.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93