Updated Mar 11, 2025
Progress Capital Arranges $14M Refinance Loan For Industrial Property In South Plainfield, NJ
450 Oak Tree Road, South Plainfield, New Jersey 07080, United States
$14,000,000
$56/SF
Building Size
245,860 SF
Asset Type
Industrial
Closing
Mar 27, 2022
About this deal
AI
An industrial property located at 450 Oak Tree Avenue in South Plainfield, NJ has undergone a refinance transaction. The property spans 245,860 square feet and is of the industrial asset type.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $14,000,000
- Loan Type: Refinance
- Market: South Plainfield, NJ
- Lender: Lakeland Bank
- Brokers: Brad Domenico & Frank Stanislaski - Progress Capital
The refinance loan for this industrial property was facilitated by Lakeland Bank. Brad Domenico and Frank Stanislaski from Progress Capital represented the parties involved in the transaction.
Players
South Plainfield 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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93