Ridgecut Road Acquires Industrial Outdoor Storage Facility In Union New Jersey With JLL Representation
2461 Iorio Street
Building Size
—
Asset Type
Industrial
Closing
Nov 27, 2024
AI
An industrial outdoor storage facility at 2461 Iorio Street, Union, NJ has been sold. The property spans 2.5 acres and features a clear height of 15 feet, one loading dock, and four drive-in bays.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 2461 Iorio Street
- Market: Union
- Acres: 2.5
- Buyer: Eric & Scott Shalek
- Buyer's Company: Ridgecut Road
- Brokers: Jason Lundy, Jordan Avanzato, Marc Duval & Nick Stefans
- Brokerage: JLL
JLL facilitated the transaction, representing the buyer, Ridgecut Road, a New York-based investment firm. The sale was brokered by Jason Lundy, Marc Duval, Jordan Avanzato, and Nicholas Stefans from JLL.
Players
Union 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93