Updated Feb 7, 2025
Oliver Street Capital And Bain Capital Real Estate Acquire 8.8 Acre Industrial Site For $33.5M
115 Saint Nicholas Avenue & 115 Skyline Drive
$33,500,000
Building Size
—
Asset Type
Industrial
Closing
Feb 7, 2025
About this deal
AI
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.
On the Map
$33,500,000
Industrial
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South Plainfield 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
0.47%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93