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3254 North Mill Road, Vinel...

High Street Logistics Properties Acquires Industrial Property In Vineland For $21.95M
SOLDIndustrial

High Street Logistics Properties Acquires Industrial Property In Vineland For $21.95M

3254 North Mill Road, Vineland, NJ, USA

$21,950,000

$81/SF

Building Size

269,500 SF

Asset Type

Industrial

Closing

Jan 11, 2021

AI

A industrial property located at 3254 N. Mill Road in Vineland has been sold for a price of $21,950,000. The property spans a total area of 269,500 square feet, resulting in a price per square foot of $81. The transaction took place on January 12, 2021.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $21,950,000
  • Address: 3254 N. Mill Road, Vineland
  • Market: Vineland
  • Buyer: High Street Logistics Properties
  • Seller: Vineland Construction
  • Brokers: Michael Hines, Brian Fiumara, Brad Ruppel, and Lauren Dawicki - CBRE
  • Square Footage: 269,500
  • Price per Square Foot: $81

The buyer, High Street Logistics Properties, acquired the industrial property from Vineland Construction. The deal was facilitated by brokers Michael Hines, Brian Fiumara, Brad Ruppel, and Lauren Dawicki from CBRE.

Players

Brian Fiumara

CBRE

Broker

$1.6B

vol

24 deals

Broker
HP
High Street Logistics PropertiesBuyer
VC
Vineland ConstructionSeller

Vineland 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

0.72%

Cash-on-Cash

-0.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93