The STRO Companies Refinances Industrial Property In Union, NJ For $8M With Capital One Loan - Jack Shulman & Katie Kennedy
600 Green Lane, Union Township, New Jersey 07083, United States
$8,000,000
$90/SF
Building Size
88,000 SF
Asset Type
Industrial
Closing
Jan 2, 2022
AI
The STRO Companies, represented by Jack Shulman, recently refinanced their industrial property located at 600 Green Lane in Union, NJ. The property spans an impressive 88,000 square feet and is part of the warehouse-distribution asset type.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $8,000,000
- Date: January 3, 2022
- Address: 600 Green Lane, Union, NJ
- Market: Union, NJ
- Lender: Capital One - Katie Kennedy
- Landlord: The STRO Companies - Jack Shulman
Katie Kennedy from Capital One served as the lender in this refinancing deal. The STRO Companies, led by Jack Shulman, owns the property and is actively seeking to purchase additional warehouse-distribution properties in various locations including north NJ, Charlotte, NC, Raleigh-Durham, NC, Jacksonville, FL, and South FL (Miami/Palm Beach). They have the ability to close with all cash and a quick due diligence and closing process. For potential opportunities, please reach out to [email protected].
Players
Union 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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93