Updated Dec 4, 2024
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
About this deal
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