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Simex Acquires Industrial Property In Piscataway, NJ From American Express For $5.5M

Property Image
SOLD
$5,545,500

New Jersey

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Industrial44,362 SF
Sold 05/26/2020
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Property Image
SOLD

Simex Acquires Industrial Property In Piscataway, NJ From American Express For $5.5M

2 Corporate Place, Piscataway, NJ, USA

See Similar Deals
Industrial44,362 SF
Sold 05/26/2020
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Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$125
Total Square Footage:44,362 SF
Transaction Type:Sale

Located at 2 Corporate Place in Piscataway, NJ, an industrial property was recently sold in a transaction. The property spans across 44,362 square feet and was sold for a price of $5,545,500, resulting in a price per square foot of $125. The deal was closed on 05/26/2021.

Summary of Transaction Details:

  • Property Type: Industrial
  • Transaction Amount: $5,545,500
  • Address: 2 Corporate Place, Piscataway, NJ
  • Market: Piscataway, NJ

The buyer of the property was Simex, represented by Eli Chalouh. On the other hand, the seller was American Express, with Stephen Squeri as the representative. The buyer was assisted by Leo Esses and Ilan Tabbouche from Bussel Realty Corp. (BRC) as their representatives. JLL served as the representative for the seller in this transaction.

Players

Ilan Tabbouche
4 deals$12.8M volume
BROKER

Leo A. Esses
Bussel Realty
5 deals$21.3M volume
BROKER

SELLER

Details

SOLD
IMAGE: Ilan Tabbouche, Leo Esses & Stephen Squeri DATE: 05/26/2021 ADDRESS: 2 Corporate Place MARKET: Piscataway, NJ ASSET TYPE: Industrial BUYER: Simex - Eli Chalouh SELLER: American Express - Stephen Squeri BUYER'S REP: Leo Esses & Ilan Tabbouche - Bussel Realty Corp. (BRC) SELLER'S REP: JLL SALE PRICE: $5,545,500 SF: 44,362 ~ PPSF: $125

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$19,702.00
Cash-on-Cash Return-1.27%
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