Faropoint Acquires Industrial Property In Runnemede For $29.37M
SOLD
$29,370,000
+ 1
New Jersey
See Similar DealsIndustrial429,077 SF
Sold 12/30/2020
SOLD
Faropoint Acquires Industrial Property In Runnemede For $29.37M
721 East Clements Bridge Road, Runnemede, NJ, USA
See Similar DealsIndustrial429,077 SF
Sold 12/30/2020
+ 1
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$68
Total Square Footage:429,077 SF
Transaction Type:Sale
An industrial property located at 150 - 200 9th Ave & 721 E. Clements Bridge Road in Runnemede has been sold for a total amount of $29,370,000. The property spans across 429,077 square feet, resulting in a price per square foot of $68. The transaction took place on December 30, 2020.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $29,370,000
- Address: 150 - 200 9th Ave & 721 E. Clements Bridge Road, Runnemede
- Market: Runnemede
Faropoint acquired the property from Richards & Robbins. The deal was facilitated by CBRE, with Michael Hines, Brian Fiumara, Brad Ruppel, and Lauren Dawicki representing both the buyer and seller.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,566,400.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$104,345.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$139,228.78
Annual Debt Service$1,670,745.41
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