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18 Harmich Road, South Plai...

Marcus Partners Acquires 17-Acre Industrial Property In South Plainfield For $36.5M
SOLDIndustrial

Marcus Partners Acquires 17-Acre Industrial Property In South Plainfield For $36.5M

18 Harmich Road, South Plainfield, New Jersey 07080, United States

$36,500,000

$182/SF

Building Size

200,000 SF

Asset Type

Industrial

Closing

Sep 21, 2022

AI

The industrial property located at 18-20 Harmrich Road in South Plainfield has been sold. The property spans 17 acres and is classified as an industrial asset. The transaction was completed on 09/22/2022.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $36,500,000
  • Address: 18-20 Harmrich Road
  • Market: South Plainfield
  • Acres: 17

The buyer of the property was Marcus Partners, represented by Todd Minerly. The sale was facilitated by Rick Marchisio, Crista Governara, and Drew Maffey, who are brokers from Lee & Associates New Jersey. The property measures approximately 200,000 square feet, with a price per square foot of $183.

Players

Rick Marchisio

Lee & Associates

Broker

$126.1M

vol

6 deals

Broker
Marcus Partners
Marcus PartnersBuyer

South Plainfield 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

0.43%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93