Updated Oct 29, 2024
CenterPoint Properties Acquires Industrial Building In Wayne, NJ From 100 Demarest Drive LLC
100 Demarest Dr, Wayne, NJ, 07470
Building Size
117,340 SF
Asset Type
Industrial
Closing
Nov 22, 2023
About this deal
AI
An industrial building spanning 117,340 square feet located at 100 Demarest Dr in Wayne, NJ, 07470, was recently sold in a transaction facilitated by NAI James E. Hanson. The property, situated on 10.5 acres, boasts a clear height of 26 feet and was fully leased at the time of sale.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Buyer: CenterPoint Properties
- Buyer's Representative: William "Will" Ericksen of NAI James E. Hanson
- Seller: 100 Demarest Drive LLC
CenterPoint Properties, a company based in Chicago, was represented in the transaction by William Ericksen from NAI Hanson. The seller, known as 100 Demarest Drive LLC, concluded the deal for the industrial property in Wayne, NJ.
On the Map
Industrial
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Wayne 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93