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R&L Goods Distribution Acquires Industrial Property In Carteret For $11.75M

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SOLD
$11,750,000

New Jersey

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Industrial74,000 SF
Sold 10/06/2022
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SOLD

R&L Goods Distribution Acquires Industrial Property In Carteret For $11.75M

110 Minue Street, Carteret, New Jersey 07008, United States

See Similar Deals
Industrial74,000 SF
Sold 10/06/2022
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Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$158
Total Square Footage:74,000 SF
Transaction Type:Sale

The industrial property located at 110 Minue Street in Carteret has been sold in a transaction on 10/06/2022. The property spans 74,000 square feet and was sold for a price of $11,750,000, resulting in a price per square foot of $159. The buyer in this transaction is R&L Goods Distribution, while the seller is Dino Tomasetti.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $11,750,000
  • Address: 110 Minue Street, Carteret
  • Market: Carteret
  • Buyer: R&L Goods Distribution
  • Seller: Dino Tomasetti
  • Buyer's Representative: Cushman & Wakefield
  • Seller's Representatives: Jordan Metz, Eric Koons, and Benito Abbate - Bussel Realty Corp

Cushman & Wakefield served as the buyer's representative in this transaction, while Jordan Metz, Eric Koons, and Benito Abbate from Bussel Realty Corp represented the seller. The deal was successfully closed, marking a significant transaction in the industrial property market.

Players

Jordan Metz
38 deals$140.7M volume
BROKER

Eric Koons
Bussel Realty
14 deals$39.9M volume
BROKER

Details

SOLD
IMAGE: Jordan Metz & Eric Koons DATE: 10/06/2022 ADDRESS: 110 Minue Street MARKET: Carteret ASSET TYPE: Industrial BUYER: R&L Goods Distribution SELLER: Dino Tomasetti BUYER'S REP: Cushman & Wakefield (@CushWake) SELLER'S REP: Jordan Metz (@JordanMichaelm), Eric Koons (@KoonsIndustrial) & Benito Abbate (@BenitoAbbate) - Bussel Realty Corp (@BusselRealty) SALE PRICE: $11,750,000 SF: 74,000 ~ PPSF: $159

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$41,745.28
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