Updated Oct 12, 2026
The STRO Cos. Secures $14.5M Refinance Loan From City National Bank For Wyckoff Industrial Property
500 West Main Street
$14,500,000
$126/SF
Building Size
115,084 SF
Asset Type
Industrial
Closing
May 7, 2025
About this deal
AI
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:
- Property Type: Industrial
- Transaction Amount: $14,500,000
- Lender: City National Bank
- Landlord: Steven Millstein - The STRO Cos.
- Borrower: Albert Fitch
- Loan Type: Refinance
- Loan Terms: five-year fixed-rate
- Brokers: Christian Badalamenti, Max Custer & Michael Klein - JLL
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.
On the Map
$14,500,000
$126/SF
Industrial
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Players
Wyckoff 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
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93