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The STRO Cos. Secures $14.5M Refinance Loan From City National Bank For Wyckoff Industrial Property

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FINANCED
$14,500,000
Max Custer
Michael Klein
Christian Badalamenti

New Jersey

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Industrial115,084 SF
Financed 05/07/2025
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FINANCED

The STRO Cos. Secures $14.5M Refinance Loan From City National Bank For Wyckoff Industrial Property

500 West Main Street

See Similar Deals
Industrial115,084 SF
Financed 05/07/2025
Max Custer
Michael Klein
Christian Badalamenti
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$126
Total Square Footage:115,084 SF
Transaction Type:Loan

An industrial property located at 500 West Main Street in Wyckoff, New Jersey, encompasses 115,084 square feet and spans across 13 acres. The property is fully leased and valued in a refinancing loan transaction amounting to $14,500,000.

Summary of transaction details:

The refinancing loan was arranged by JLL Capital Markets for the facility, which has a total of 12 tenants. This transaction presents a significant financial maneuver for the STRO Cos. in managing their industrial assets.

Players

Michael Klein
JLL
Michael Klein
77 deals$2.6B volume(973) 549-2005
BROKER
Max Custer
JLL
Max Custer
36 deals$790M volume
BROKER
Christian Badalamenti
JLL
Christian Badalamenti
9 deals$188.3M volume
BROKER
City National Bank
City National Bank
LENDER

Details

FINANCED
IMAGE: Steven Millstein, Christian Badalamenti, Max Custer & Michael Klein DATE: 05/07/2025 ADDRESS: 500 West Main Street MARKET: Wyckoff ASSET TYPE: Industrial ~ SF: 115,084 ~ ACRES: 13 LENDER: City National Bank (@CityNationalBank) LANDLORD: Steven Millstein - The STRO Cos. BROKERS: Christian Badalamenti, Max Custer (@GeneralCusta) & Michael Klein - JLL (@JLL) BORROWER: Albert Fitch LOAN AMOUNT: $14,500,000 LOAN TYPE: Refinance LOAN TERMS: five-year fixed-rate NOTE: The STRO Cos. landed a $14.5M refinancing loan from City National Bank for its fully leased 115,084-square-foot industrial property at 500 W. Main St. in Wyckoff, N.J. JLL Capital Markets arranged the five-year, fixed-rate financing for the 12-tenant facility.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$14,500,000.00

Monthly NOI$96,666.67
Monthly Debt Service$91,649.86
Change in Cash Flow$0.00
Refinance Proceeds$0.00