Givaudan Fragrances Renews 43,000 SF Lease In East Hanover Industrial Park
905 Murray Road
Building Size
43,000 SF
Asset Type
Industrial
Closing
May 7, 2024
AI
The industrial property located at 905 Murray Road in East Hanover spans 43,000 square feet. It serves as the operational hub for Givaudan Fragrances Corp., which recently renewed its lease at the location.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 905 Murray Road
- Market: East Hanover
Givaudan Fragrances Corp. was represented by Steve Sander of Cushman & Wakefield in the lease renewal, while the landlord, Morgan Stanley, was represented by Scott Peck & Tom Consiglio of Resource Realty. The decision to maintain operations at 905 Murray Road was influenced by the strategic regional connectivity and amenities offered by the industrial campus.
Players
East Hanover 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