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86 Forrest Street

Inez Shoes Signs 5-Year Lease For 6,500 SF Industrial Space In Jersey City
LEASEDIndustrial

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.

Players

Gregory Edgell

Grid Real Estate

Broker

$26.7M

vol

15 deals

Broker

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