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
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