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Provender Partners Acquires Industrial Asset In Vineland For $22.5M

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SOLD
$22,500,000

New Jersey

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Industrial217,540 SF
Sold 09/02/2022
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Property Image
SOLD

Provender Partners Acquires Industrial Asset In Vineland For $22.5M

215 North Mill Road, Vineland, New Jersey 08360, United States

See Similar Deals
Industrial217,540 SF
Sold 09/02/2022
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Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$103
Total Square Footage:217,540 SF
Transaction Type:Sale

Provender Partners has made a significant investment in Vineland's industrial market with the acquisition of a sprawling property located at 215 N. Mill Road. Spanning across 18 acres, this industrial asset offers ample space for various commercial activities. The transaction was facilitated by brokers Ryan Guittare and Kurt Montagano from Newmark, who represented both the buyer and the seller, Safeway. The final sale price reached an impressive $22,500,000. With a total area of 217,540 square feet, the property commanded a price per square foot of $103.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $22,500,000
  • Address: 215 N. Mill Road, Vineland
  • Market: Vineland
  • Acres: 18

John Long Jr., representing Provender Partners, played a key role in the acquisition. This notable transaction highlights the growing interest in Vineland's industrial market and attests to the attractiveness of the property. The deal was successfully closed, thanks to the expertise and negotiation skills of Ryan Guittare and Kurt Montagano from Newmark.

Players

Kurt Montagano
2 deals$62.2M volume
BROKER

Ryan Guittare
Newmark
6 deals$161.6M volume
BROKER

BUYER

SELLER

Details

SOLD
IMAGE: Ryan Guittare & Kurt Montagano DATE: 09/02/2022 ADDRESS: 215 N. Mill Road MARKET: Vineland ASSET TYPE: Industrial ~ ACRES: 18 BUYER: Provender Partners (@ProvenderPartners) - John Long Jr. SELLER: Safeway BROKERS: Ryan Guittare (@RyanGuittare) & Kurt Montagano - Newmark (@Newmark) SALE PRICE: $22,500,000 SF: 217,540 ~ PPSF: $103

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,200,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$79,937.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$106,661.48
Annual Debt Service$1,279,937.75