Updated Dec 14, 2024
GLP Capital Partners LLC Acquires Industrial Property In Monroe Township For $53.75M
34 Engelhard Dr Monroe Township, NJ 08831, USA
$53,750,000
$264/SF
Building Size
203,000 SF
Asset Type
Industrial
Closing
Sep 11, 2023
About this deal
AI
A 203,000-square-foot industrial property located at 34 Engelhard Drive in Monroe Township has been sold for $53.75 million. The property, situated on 12 acres of land, was acquired by GLP Capital Partners LLC from Clarion Partners. This transaction highlights the strong demand for well-located warehouse and distribution facilities in New Jersey's industrial market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $53,750,000
- Address: 34 Engelhard Drive, Monroe Township
- Market: Monroe Township
- Acres: 12
The buyer, GLP Capital Partners LLC, represented by Alan Yang, made the purchase from the seller, Clarion Partners, represented by David Gilbert. Brian Fiumara from CBRE acted as the broker for this deal. The sale price of $53.75 million corresponds to a price per square foot of $265. This transaction further demonstrates the strong demand for industrial properties in New Jersey's market.
On the Map
$53,750,000
$264/SF
Industrial
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Players
Jamesburg 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
0.30%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93