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2461 Iorio Street

Ridgecut Road Acquires Industrial Outdoor Storage Facility In Union New Jersey With JLL Representation
SOLDIndustrial

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:

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

Jordan Avanzato

NAI James E. Hanson

Broker

$2.5B

vol

52 deals

Broker

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