Updated Dec 3, 2024
Terreno Realty Corp Acquires Industrial Property In Elizabeth For $44M
228 North Avenue, Elizabeth, NJ, USA
$44,000,000
$1,419/SF
Building Size
31,000 SF
Asset Type
Industrial
Closing
Oct 21, 2021
About this deal
AI
The industrial property located at 228 North Avenue in Elizabeth has been sold. The property spans across 6 acres and was sold for a total of $44,000,000. The sale took place on 10/21/2021. The property offers approximately 31,000 square feet of space, resulting in a price per square foot of $1,419.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $44,000,000
- Market: Elizabeth
- Address: 228 North Avenue
- Acres: 6
The buyer in the transaction is Terreno Realty Corp, represented by W. Blake Baird. W. Blake Baird is associated with the agency Terreno Realty Corp.
Players
Elizabeth 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
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93