The Stro Cos. Acquires Industrial Property In Fairfield For $8.4M
SOLD
$8,400,000
New Jersey
See Similar DealsIndustrial77,000 SF
Sold 02/10/2021
SOLD
The Stro Cos. Acquires Industrial Property In Fairfield For $8.4M
15 Law Drive, Fairfield, NJ, USA
See Similar DealsIndustrial77,000 SF
Sold 02/10/2021
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$109
Total Square Footage:77,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$448,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,843.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,820.29
Annual Debt Service$477,843.43
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