High Street Logistics Properties Acquires Industrial Property In Vineland For $23.2M
SOLD
$23,200,000
New Jersey
See Similar DealsIndustrial432,000 SF
Sold 08/12/2020
SOLD
High Street Logistics Properties Acquires Industrial Property In Vineland For $23.2M
3100 N Mill Rd, Vineland, NJ 08360, USA
See Similar DealsIndustrial432,000 SF
Sold 08/12/2020
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$53
Total Square Footage:432,000 SF
Transaction Type:Sale
The industrial property located at 3100 North Mill Road in Vineland has been sold for a price of $23,200,000. The property spans across 432,000 square feet, resulting in a price per square foot of $54. This closed transaction involved the buyer, High Street Logistics Properties, and the seller, Vineland Construction.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $23,200,000
- Square Footage: 432,000
- Price per Square Foot: $54
- Address: 3100 North Mill Road, Vineland
- Market: Vineland
The deal was facilitated by the brokers Michael Hines, Brad Ruppel, Brian Fiumara, and Lauren Dawicki from CBRE. They represented the involved parties, ensuring a smooth transaction for both the buyer and the seller.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,237,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$82,424.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$109,979.84
Annual Debt Service$1,319,758.03
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