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15 Law Drive, Fairfield, NJ...

The Stro Cos. Acquires Industrial Property In Fairfield For $8.4M
SOLDIndustrial

The Stro Cos. Acquires Industrial Property In Fairfield For $8.4M

15 Law Drive, Fairfield, NJ, USA

$8,400,000

$109/SF

Building Size

77,000 SF

Asset Type

Industrial

Closing

Feb 9, 2021

AI

The industrial property located at 15 Law Drive in Fairfield has been sold in a transaction handled by Howard Weinberg of JLL. The buyer, The Stro Cos., was represented by Jack Shulman. The seller of the property was Datascope Corp. The property is spread across 77,000 square feet and was sold for a price of $8,400,000, resulting in a price per square foot of $109.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $8,400,000
  • Address: 15 Law Drive, Fairfield
  • Market: Fairfield

Howard Weinberg from JLL played a key role as the broker in this transaction. The Stro Cos., with representation by Jack Shulman, successfully acquired the property from Datascope Corp. The sale of this industrial asset marks a significant transaction in the Fairfield market.

Players

Howard Weinberg

JLL

Broker

$22M

vol

4 deals

Broker
Jack Shulman

Jack Shulman

The Stro Companies

Buyer

$199.2M

vol

12 deals

Buyer

Fairfield 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

1.89%

Cash-on-Cash

-0.54%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93