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110 Minue Street, Carteret,...

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

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

Jordan Metz

Bussel Realty

Broker

$140.7M

vol

38 deals

Broker

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