Updated Oct 29, 2024
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.
Berlin Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Deal FAQ
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