Torchlight Investors Acquires Industrial Property In Logan, N.J. For $265M
SOLD
$265,000,000
+ 2
New Jersey
See Similar DealsIndustrial1,100,000 SF
Sold 09/30/2021
SOLD
Torchlight Investors Acquires Industrial Property In Logan, N.J. For $265M
300 Creekview Avenue, Logan Township, NJ, USA
See Similar DealsIndustrial1,100,000 SF
Sold 09/30/2021
+ 2
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$240
Total Square Footage:1,100,000 SF
Transaction Type:Sale
A 1,100,000 square foot industrial property located at 300 Creekview Ave & 400 Crossroads Blvd in Logan, N.J. has been sold for a price of $265,000,000. The property was purchased by Torchlight Investors from Greek Development. The sale price reflects a per square foot price of $241 and a capitalization rate of 2.98%.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $265,000,000
- Address: 300 Creekview Ave & 400 Crossroads Blvd, Logan, N.J.
- Market: Logan, N.J.
The transaction was facilitated by brokers Brian Fiumara, Michael Hines, Brad Ruppel, Joe Hill, and Lauren Dawicki of CBRE. They represented both the buyer, Torchlight Investors, and the seller, Greek Development.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$14,133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$941,489.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,256,235.20
Annual Debt Service$15,074,822.36
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