Updated Oct 28, 2024
Denholtz Properties Secures $16.86M Loan For Industrial Property In Toms River, NJ
1545 New Jersey 37, Toms River, NJ, USA
$16,860,000
$65/SF
Building Size
258,123 SF
Asset Type
Industrial
Closing
May 28, 2020
About this deal
AI
A $16,860,000 loan has been secured for an industrial property located at 1545-1575 Route 37 W in Toms River, NJ, Upper Macungie & Allentown, PA. The property spans 258,123 square feet and is owned by Denholtz Properties, represented by Steven Denholtz. The loan was provided by Minnesota Life Insurance Co.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $16,860,000
- Address: 1545-1575 Route 37 W, Toms River, NJ, Upper Macungie & Allentown, PA
- Market: Toms River, NJ, Upper Macungie & Allentown, PA
The deal was facilitated by JLL Capital Markets, with brokers Jon Mikula, Michael Klein, Michael Pagniucci, and Gerard Quinn representing the parties involved. The loan terms consist of two separate 10-year, fixed-rate loans.
On the Map
$16,860,000
$65/SF
Industrial
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Players
Toms River Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.94%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93