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Oliver Street Capital And Bain Capital Real Estate Acquire 8.8 Acre Industrial Site For $33.5M
SOLD
$33,500,000
New Jersey
See Similar DealsIndustrial
Sold 02/07/2025
SOLD
Oliver Street Capital And Bain Capital Real Estate Acquire 8.8 Acre Industrial Site For $33.5M
115 Saint Nicholas Avenue & 115 Skyline Drive
See Similar DealsIndustrial
Sold 02/07/2025
Summary
NEW JERSEY
Asset Type:Industrial
Transaction Type:Sale
An 8.8-acre industrial outdoor storage site located at 115 Saint Nicholas Avenue & 115 Skyline Drive in South Plainfield was sold for $33,500,000. The property served as a significant asset in the industrial market.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $33,500,000
- Buyer: Oliver Street Capital & John Connaughton - Bain Capital Real Estate
- Seller: Trans American Trucking Services
- Broker: Christopher Todd - NAI James E. Hanson
- Date of Sale: 02/07/2025
The buyer, represented by Scott Perkins, Christopher Todd, and William Ericksen, engaged in the transaction with the seller, Trans American Trucking Services. NAI James E. Hanson facilitated the broker services for this significant sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,786,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$119,018.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$158,807.09
Annual Debt Service$1,905,685.09
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