Will Gilkeson And Raouf Tawfik Acquire Industrial Property In Edison For $8.5M
SOLD
$8,500,000
New Jersey
See Similar DealsIndustrial10,200 SF
Sold 06/16/2025
SOLD
Will Gilkeson And Raouf Tawfik Acquire Industrial Property In Edison For $8.5M
1 Nixon Lane
See Similar DealsIndustrial10,200 SF
Sold 06/16/2025
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$833
Total Square Footage:10,200 SF
Transaction Type:Sale
The property involved in this transaction is an industrial asset located at 1 Nixon Lane in the Edison market, specifically at Exit 10. The sale price of the property was set at $8,500,000, encompassing a total square footage of 10,200, translating to a price per square foot of $833.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $8,500,000
- Address: 1 Nixon Lane
- Market: Edison (Exit 10)
- Square Footage: 10,200
- Price Per Square Foot: $833
- Buyer: Will Gilkeson & Raouf Tawfik - BLP - Bridge Logistics Properties
- Broker: Jason Barton - Cushman & Wakefield
The deal was facilitated by Jason Barton representing the broker agency Cushman & Wakefield. The buyer group consists of Will Gilkeson and Raouf Tawfik, who are associated with Bridge Logistics Properties, indicating a strategic move in the industrial property sector.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$453,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,198.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,294.34
Annual Debt Service$483,532.04
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