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1560 NW BLVD, Vineland, NJ,...

Columbia Care Acquires Property In Vineland With Sellers' Representatives Fred Meyer And Jonathan Klear
SOLDIndustrial

Columbia Care Acquires Property In Vineland With Sellers' Representatives Fred Meyer And Jonathan Klear

1560 NW BLVD, Vineland, NJ, 08360

Building Size

50,274 SF

Asset Type

Industrial

Closing

Nov 20, 2023

AI

Columbia Care has purchased a 50,274-square-foot industrial property located at 1560 N.W. Blvd., Vineland, NJ, which features 27-foot ceiling heights and 2,749 square feet of office space. The property was vacant at the time of the sale, and is situated approximately 40 miles south of Philadelphia.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Undisclosed
  • Address: 1560 NW Blvd, Vineland, NJ, 08360
  • Market: Vineland
  • Seller's Representative: Fred Meyer & Jonathan Klear - NAI Mertz
  • Buyer: Columbia Care
  • Square Footage: 50,274
  • Ceiling Heights: 27 feet
  • Office Space: 2,749 square feet
  • Status: Vacant at time of sale

Jonathan Klear and Fred Meyer of NAI Mertz represented the seller, LS Capital, in this transaction.

Players

Jonathan Klear

NAI Global

Broker

$33.4M

vol

9 deals

Broker

Vineland 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93