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A.C. Moore Drive, Berlin, N...

Updated Oct 29, 2024

Bel Berlin LLC Acquires Industrial Property In Berlin, NJ For $43.95M
SOLDIndustrial

Bel Berlin LLC Acquires Industrial Property In Berlin, NJ For $43.95M

A.C. Moore Drive, Berlin, NJ, USA

$43,950,000

Building Size

Asset Type

Industrial

Closing

Apr 13, 2021

About this deal

AI

The East Coast distribution facility of Michaels Stores in Berlin, NJ has been sold in a recent transaction. The industrial property, located at 130 Makers Avea/K/A AC Moore Drive, was purchased by BEL Berlin, LLC for a sale price of $43.95 million.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $43,950,000

Bel Berlin LLC acted as the buyer in this deal, while the sellers were Fem Berlin LLC, CPI Berlin II LLC, and CPI Berlin III LLC. The purchase of the property was insured by Town Title Agency @TownTitleagency.

Town Title Agency @TownTitleagency insured the purchase of the Michaels Stores' @MichaelsStores East Coast distribution facility. The property was purchased by BEL Berlin, LLC for $43.95 million.

Players

L
LLCBuyer

Berlin 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

0.36%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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