J.P. Morgan Asset Management & Ivy Realty Acquire Industrial Property In Rockaway For $39M
SOLD
$39,000,000
+ 2
New Jersey
See Similar DealsIndustrial352,461 SF
Sold 01/18/2022
SOLD
J.P. Morgan Asset Management & Ivy Realty Acquire Industrial Property In Rockaway For $39M
100 Commons Way, Rockaway, New Jersey 07866, United States
See Similar DealsIndustrial352,461 SF
Sold 01/18/2022
+ 2
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$110
Total Square Footage:352,461 SF
Transaction Type:Sale
The industrial property located at 100 Commons Way in Rockaway, with an area covering 45.8 acres, was recently sold. The transaction was completed on January 18, 2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $39,000,000
- Address: 100 Commons Way, Rockaway
- Market: Rockaway
- Size: 352,461 square feet
- Price per Square Foot: $111
The buyer of the property was J.P. Morgan Asset Management and Ivy Realty. The seller's information is not available. The deal was facilitated by Kevin Welsh, Brian Schulz, Jason Emrani, Maria Betancourt, and Chris Koeck from Newmark.
Players
BROKERAGE
BUYER
BUYER
SELLER
SELLER
SELLER
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,080,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$138,558.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$184,879.90
Annual Debt Service$2,218,558.76
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