Sagard Real Estate And Woodmont Industrial Partners Secure $56M Loan For Industrial Project In Rahway
389 New Brunswick Avenue
$56,000,000
$201/SF
Building Size
277,818 SF
Asset Type
Industrial
Closing
Mar 16, 2026
AI
The transaction involves a construction loan secured for a two-building industrial project located at 349 and 389 New Brunswick Avenue in Rahway. The project encompasses a total of 277,818 square feet and is part of a 25.6-acre site. It is being developed by Sagard Real Estate and Woodmont Industrial Partners. The total loan amount is $56,000,000, funded by BMO Bank.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $56,000,000
- Address: 349 & 389 New Brunswick Avenue
- Market: Rahway
- Asset Size: 277,818 square feet
- Lender: BMO Bank
- Landlords: Rick Stone - Sagard Real Estate; Eric Witmondt - Woodmont Industrial Partners
- Brokers: John Alascio, Chuck Kohaut & TJ Sullivan - Cushman & Wakefield
The project, aimed for completion in late 2026, will include high-clear warehouse space and infrastructure tailored for logistics. The development is strategically positioned to attract tenants, particularly in the Port South submarket, fueled by rising demand linked to port activity and e-commerce growth.
Players
Rahway 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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93