Centerpoint Properties Acquires Industrial Asset In Wayne For $27.5M
SOLD
$27,500,000
New Jersey
See Similar DealsIndustrial117,340 SF
Sold 06/03/2022
SOLD
Centerpoint Properties Acquires Industrial Asset In Wayne For $27.5M
100 Demarest Drive, Wayne, New Jersey 07470, United States
See Similar DealsIndustrial117,340 SF
Sold 06/03/2022
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$234
Total Square Footage:117,340 SF
Transaction Type:Sale
Centerpoint Properties has acquired an industrial property located at 100 Demarest Dr in Wayne. The transaction, which took place on 06/03/2022, involved the sale of the asset by 100 Demarest Drive LLC. The property spans approximately 117,340 square feet and was sold for a price of $27,500,000, resulting in a price per square foot of $234. The deal was facilitated by brokers Christopher Todd, Scott K. Perkins, and Will Ericksen from NAI James E. Hanson.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $27,500,000
- Date: 06/03/2022
- Address: 100 Demarest Dr, Wayne
- Market: Wayne
Centerpoint Properties, represented by P.J. Charlton and Bryan Won, acquired the property from 100 Demarest Drive LLC. The transaction was successfully completed with the assistance of NAI James E. Hanson's brokers, Christopher Todd, Scott K. Perkins, and Will Ericksen.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,466,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$97,701.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$130,364.03
Annual Debt Service$1,564,368.36
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