Updated Oct 15, 2026
Undisclosed Delivery Service Acquires 31,000 Square Foot Industrial Property In Phillipsburg For $1.76M
340 Fleming Drive
$1,760,000
$56/SF
Building Size
31,000 SF
Asset Type
Industrial
Closing
Oct 13, 2026
About this deal
AI
An undisclosed delivery service has acquired a 31,000-square-foot industrial building located at 340 Fleming Drive, Phillipsburg, NJ, for $1.76 million. The two-story property includes loading docks, drive-in doors, and both office and storage space. It offers convenient access to Route 22, servicing northern and central New Jersey, as well as Pennsylvania’s Lehigh Valley.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,760,000
- Square Footage: 31,000
- Price per Square Foot: $57
- Address: 340 Fleming Drive
- Market: Phillipsburg, NJ
- Broker: Joshua Glussky - Sheldon Gross Realty
This transaction was facilitated by Joshua Glussky from Sheldon Gross Realty, who represented the seller in this deal. The involvement of a delivery service signifies the increasing demand for industrial spaces catering to logistics and distribution needs in the region.
On the Map
$1,760,000
$56/SF
Industrial
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Hackettstown 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
9.01%
Cash-on-Cash
-2.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93