High Street Logistics Properties Acquires Industrial Property In Vineland For $21.95M
SOLD
$21,950,000
+ 1
New Jersey
See Similar DealsIndustrial269,500 SF
Sold 01/12/2021
SOLD
High Street Logistics Properties Acquires Industrial Property In Vineland For $21.95M
3254 North Mill Road, Vineland, NJ, USA
See Similar DealsIndustrial269,500 SF
Sold 01/12/2021
+ 1
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$81
Total Square Footage:269,500 SF
Transaction Type:Sale
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
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,170,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$77,983.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$104,054.20
Annual Debt Service$1,248,650.38
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