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
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