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Michael Anthony Acquires South Plainfield Industrial Property From Marvin Strauss For $139M

Property Image
SOLD
$139,000,000

New Jersey

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Industrial
Sold 09/08/2021
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Property Image
SOLD

Michael Anthony Acquires South Plainfield Industrial Property From Marvin Strauss For $139M

2500 Middlesex Ave, South Plainfield, NJ, USA

See Similar Deals
Industrial
Sold 09/08/2021
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:Industrial
Transaction Type:Sale

An industrial property in South Plainfield has been sold for $139,000,000. The property, located at 2500 Middlesex Ave, 1641, 1640 New Market Ave & 2005 New Brunswick Ave, is a significant asset in the market. The sale transaction took place on September 8, 2021. The buyer, Michael Anthony, acquired the property from the seller, Marvin Strauss.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $139,000,000
  • Address: 2500 Middlesex Ave, 1641, 1640 New Market Ave & 2005 New Brunswick Ave, South Plainfield
  • Date: September 8, 2021
  • Buyer: Michael Anthony
  • Seller: Marvin Strauss

The sale of this industrial property reflects a significant investment in the South Plainfield market. It is an important transaction for both the buyer, Michael Anthony, and the seller, Marvin Strauss. The deal highlights the ongoing activity and growth in the industrial sector in South Plainfield.

Players

MA
Michael Anthony
3 deals$146.6M volume
BUYER

Details

SOLD
IMAGE: 09/08/2021 ADDRESS: 2500 Middlesex Ave, 1641, 1640 New Market Ave & 2005 New Brunswick Ave MARKET: South Plainfield ASSET TYPE: Industrial BUYER: Michael Anthony SELLER: Marvin Strauss SALE PRICE: $139,000,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$493,837.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$658,930.91
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