Updated Oct 28, 2024
Sitex Group Acquires Industrial Property In Avenel For $19.7M
160 Essex Avenue East, Avenel, New Jersey 07001, United States
$19,700,000
$492/SF
Building Size
40,000 SF
Asset Type
Industrial
Closing
Sep 20, 2022
About this deal
AI
An industrial property located at 160 Essex Ave. East in Avenel has been sold for $19,700,000. The property spans 40,000 square feet and is part of the Sitex Group's portfolio. The transaction was completed on September 21, 2022, with the seller being Total Source Logistics. The property is situated in the Avenel market, known for its industrial properties.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $19,700,000
- Address: 160 Essex Ave. East
- Market: Avenel
The buyer in this transaction was Sitex Group, a prominent real estate investment company. The seller, Total Source Logistics, was represented by Jordan Metz from Bussel Realty Corp. The deal was facilitated by Jordan Metz, who acted as the broker for both the buyer and seller.
On the Map
$19,700,000
$492/SF
Industrial
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Players
Avenel 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
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93