Updated Oct 28, 2024
Thor Equities Acquires Industrial Property In Newark For $32M
241 Oraton Street, Newark, New Jersey 07104, United States
$32,000,000
$246/SF
Building Size
130,000 SF
Asset Type
Industrial
Closing
Dec 29, 2021
About this deal
AI
The industrial property located at 241 Oraton Street in Newark has been recently sold in a transaction on December 30, 2021. The property, with a size of 130,000 square feet, was sold to Thor Equities. The seller, Jewels Transportation, completed the deal with the assistance of brokers Marc Duval, Jordan Avanzato, and Nick Stefans from JLL. The sale price for this property was $32,000,000, resulting in a price per square foot of $246.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $32,000,000
- Address: 241 Oraton Street, Newark
- Market: Newark
- Buyer: Thor Equities
- Seller: Jewels Transportation
- Brokers: Marc Duval, Jordan Avanzato, Nick Stefans - JLL
- Square Footage: 130,000
- Price Per Square Foot: $246
The involvement of the brokers Marc Duval, Jordan Avanzato, and Nick Stefans from JLL played a vital role in facilitating the sale. Their expertise and guidance contributed to the successful completion of the transaction.
Players
Newark Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Deal FAQ
Visit Nick Stefans to view all their deals.
Browse New Jersey industrial sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93