Brookfield Asset Management Acquires Industrial Property In Kearny, NJ For $67.2M
SOLD
$67,250,000
New Jersey
See Similar DealsIndustrial56,700 SF
Sold 11/30/2022
SOLD
Brookfield Asset Management Acquires Industrial Property In Kearny, NJ For $67.2M
1100 Newark Avenue
See Similar DealsIndustrial56,700 SF
Sold 11/30/2022
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$1,186
Total Square Footage:56,700 SF
Transaction Type:Sale
The industrial property located at 1100 Newark Tpke in Kearny, NJ has been sold in a transaction.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $67,250,000
- Square Footage: 56,700 SF
- Price Per Square Foot: $1,186
- Market: Kearny, NJ
The buyer of the property is Brookfield Asset Management, while the seller is CSX. The deal was facilitated by Isaac Setton and Bunny Escava from Kassin Sabbagh Realty.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$238,925.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$318,799.31
Annual Debt Service$3,825,591.71
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