Bridge Logistics Properties Acquires 202K SF Industrial Property In Meadowlands Industrial, New Jersey For $45M
1-5 Plant Rd. Hasbrouck Heights, NJ 07604
$45,000,000
$222/SF
Building Size
202,000 SF
Asset Type
Industrial
Closing
Apr 18, 2023
AI
Bridge Logistics Properties, a subsidiary of Bridge Investment Group Holdings Inc., has acquired 1-5 Plant Road in Hasbrouck Heights & Teterboro, New Jersey. The property, totaling 202,000 square feet, includes warehouse space and a separate 0.50 acre parking lot. Situated in the Meadowlands industrial market, the location offers convenient access to densely populated areas in Northern New Jersey and New York City, as well as Newark Liberty International Airport and the Ports of New York / New Jersey.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $45,000,000
- Square Feet: 202,000
- Price per Square Foot: $223
- Address: 1-5 Plant Road, Hasbrouck Heights & Teterboro, New Jersey
- Market: Meadowlands Industrial
Bridge Logistics Properties was represented by Leo Josephs and Joshua Meisner of Leo Josephs & Company, Inc. (LJCI). The acquisition of 1-5 Plant Road was sourced on an off-market basis. Leo Josephs & Company, Inc. facilitated the transaction, providing their expertise in the industrial real estate market.
Players
New Jersey Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93