Andrew Joblon Of Turnbridge Equities Acquires Industrial Property In Dayton For $23.75M
138 Georges Road
$23,750,000
$165/SF
Building Size
143,280 SF
Asset Type
Industrial
Closing
Oct 7, 2025
AI
Turnbridge Equities has acquired an industrial property at 138 Georges Road in Dayton, NJ. The transaction involved a vacant asset spanning 143,280 square feet and sold for $23,750,000, reflecting a price per square foot of $166.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $23,750,000
- Buyer: Andrew Joblon - Turnbridge Equities
- Seller: Charles Tebele - 138 Dayton LLC
- Broker: Jonathan Bodner - Two Bins Capital
- Acres: 20
- Financing: $17.37 million loan from East West Bank
- Renovation Plans: $4 million
- Leasing Agent: NAI Hanson
The deal was executed after a foreclosure by lender Ameritas Life Insurance, facilitating the transition of ownership from 138 Dayton LLC to Turnbridge Equities. Jonathan Bodner represented the seller in this transaction, providing expertise in facilitating the deal.
Players
Dayton 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
0.67%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93