Last-mile Delivery Company Leases 211340 SF Industrial Space At 936 Harrison Avenue Kearny
936 Harrison Avenue
Building Size
211,340 SF
Asset Type
Industrial
Closing
Aug 12, 2025
AI
An industrial lease transaction was completed for a property located at 936 Harrison Avenue in Kearny, involving a total square footage of 211,340. The asset is utilized for last-mile delivery services and represents a significant expansion from a previous 30,000 SF location at Seagis Property Group's facility in Carlstadt.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 936 Harrison Avenue
- Market: Kearny
- Landlord: John Begier - Seagis Property Group
- Landlord's Representative: Rob Kossar, David Knee, Ignatius Armenia, Ryan Milanaik, Doug Rodenstein, Chris Hile - JLL
- Tenant's Representative: Jimo Liu - Cushman & Wakefield
The deal involved representation by JLL for Seagis Property Group, while Cushman & Wakefield represented the tenant. This transaction reflects a strategic move by the last-mile delivery company to enhance its operational capacity in the Kearny market.
Players
Kearny 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