R&L Goods Distribution Acquires Industrial Property In Carteret For $11.75M
110 Minue Street, Carteret, New Jersey 07008, United States
$11,750,000
$158/SF
Building Size
74,000 SF
Asset Type
Industrial
Closing
Oct 5, 2022
AI
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
Carteret 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
1.35%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93