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Vericon Construction Company Acquires 20 Commerce Street Industrial Building From Fortress Group LLC For $1.88M

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SOLD
$1,880,000

New Jersey

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Industrial7,000 SF
Sold 01/27/2025
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SOLD

Vericon Construction Company Acquires 20 Commerce Street Industrial Building From Fortress Group LLC For $1.88M

20 Commerce Street

See Similar Deals
Industrial7,000 SF
Sold 01/27/2025
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$268
Total Square Footage:7,000 SF
Transaction Type:Sale

Vericon Construction Company purchased an industrial building located at 20 Commerce Street in Springfield for a total of $1,880,000. The property spans 7,000 square feet and was sold at a price per square foot of $269. The seller of the asset is Fortress Group LLC.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $1,880,000
  • Address: 20 Commerce Street
  • Market: Springfield
  • Square Footage: 7,000
  • Price per Square Foot: $269
  • Seller: Fortress Group LLC
  • Buyer's Representative: NAI Dileo Bram & Co.
  • Broker: Gregory Irving - Bussel Realty

Charlie DeAngelis represents the buyer, Vericon Construction Company, in this transaction. Fortress Group LLC was represented by Gregory Irving from Bussel Realty Corp, facilitating the sale of the industrial asset.

Players

Gregory Irving
Bussel Realty
Gregory Irving
7 deals$38.1M volume
BROKER

Details

SOLD
IMAGE: Charlie DeAngelis & Gregory Irving DATE: 01/27/2025 ADDRESS: 20 Commerce Street MARKET: Springfield ASSET TYPE: Industrial BUYER: Charlie DeAngelis - Vericon Construction Company SELLER: Fortress Group LLC BROKER: Gregory Irving - Bussel Realty (@BusselRealty) BUYER'S REP: NAI Dileo Bram & Co. SALE PRICE: $1,880,000 SF: 7,000 ~ PPSF: $269 NOTE: Vericon Construction Company purchased 20 Commerce Street, a 7,000-square-foot industrial building in Springfield, for $1.88 million. The seller, Fortress Group LLC, was represented by Gregory Irving of Bussel Realty Corp, while NAI Dileo Bram represented the buyer.

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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)-$6,679.24
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