Elion Partners Acquires Industrial Property In Elizabeth For $29.7M
SOLD
$29,700,000
New Jersey
See Similar DealsIndustrial202,000 SF
Sold 03/01/2021
SOLD
Elion Partners Acquires Industrial Property In Elizabeth For $29.7M
1000 Jefferson Avenue, Elizabeth, NJ, USA
See Similar DealsIndustrial202,000 SF
Sold 03/01/2021
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$147
Total Square Footage:202,000 SF
Transaction Type:Sale
An industrial property located at 1000 Jefferson Avenue in Elizabeth has been sold for $29,700,000. The property spans across 202,000 square feet and sits on 8.6 acres of land. The sale price per square foot comes out to be approximately $147, while the price per acre is around $3,453,488.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $29,700,000
- Address: 1000 Jefferson Avenue
- Market: Elizabeth
Elion Partners was the buyer in this transaction, while the property was sold by Seyon Group and Wheelock Street Capital. Bunny Escava and Isaac Setton from Kassin Sabbagh Realty represented the parties involved in the deal as brokers.
Players
BUYER
SELLER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,584,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$105,517.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$140,793.15
Annual Debt Service$1,689,517.83
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