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Andrew Joblon Of Turnbridge Equities Acquires Industrial Property In Dayton For $23.75M

Property Image
SOLD
$23,750,000
Jonathan "Jon" Bodner
Andrew Joblon

New Jersey

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Industrial143,280 SF
Sold 10/07/2025
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Property Image
SOLD

Andrew Joblon Of Turnbridge Equities Acquires Industrial Property In Dayton For $23.75M

138 Georges Road

See Similar Deals
Industrial143,280 SF
Sold 10/07/2025
Jonathan "Jon" Bodner
Andrew Joblon
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$165
Total Square Footage:143,280 SF
Transaction Type:Sale

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

Jonathan "Jon" Bodner
Jonathan Bodner
8 deals$376.2M volume
BROKER
Andrew Joblon
Turnbridge Equities
Andrew Joblon
11 deals$1.2B volume
BUYER
Turnbridge Equities
Turnbridge Equities
BUYER

Details

SOLD
IMAGE: Andrew Joblon & Jonathan Bodner DATE: 10/07/2025 ADDRESS: 138 Georges Road MARKET: Dayton ASSET TYPE: Industrial ~ ACRES: 20 BUYER: Andrew Joblon - Turnbridge Equities SELLER: Charles Tebele - 138 Dayton LLC BROKER: Jonathan Bodner (@BodnerJon) - Two Bins Capital SALE PRICE: $23,750,000 SF: 143,280 ~ PPSF: $166 NOTE: Turnbridge Equities acquired the vacant 143,280 SF industrial property at 138 Georges Rd. in Dayton, NJ, for $23.75M ($166/SF) from 138 Dayton LLC after a foreclosure by lender Ameritas Life Insurance. The buyer financed the deal with a $17.37M loan from East West Bank and plans a $4M renovation, with NAI Hanson handling leasing.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,266,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$84,378.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$112,587.12
Annual Debt Service$1,351,045.40