NFI Industries Acquires Cherry Hill Industrial Building For $17M
1515 Burnt Mill Road
$17,000,000
$51/SF
Building Size
330,000 SF
Asset Type
Industrial
Closing
Nov 27, 2023
AI
NFI Industries, a Camden-based logistics firm, has acquired a 330,000-square-foot industrial building in Cherry Hill for $17 million. The property, located at 1515 Burnt Mill Road near I-295, was sold by Burnt Mill Group LLC. Built in 1960, the Class B building was previously leased to Devereux Advanced Behavioral Health New Jersey.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $17,000,000
- SF: 330,000
- PPSF: $52
- Market: Cherry Hill
Sidney Brown of NFI Industries represented the buyer in the transaction.
Players
Cherry Hill 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
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93