Mana Group's Moishe Mana Sells Industrial Property In North Arlington, NJ For $120M
SOLD
$120,000,000
New Jersey
See Similar DealsIndustrial139,255 SF
Sold 05/04/2021
SOLD
Mana Group's Moishe Mana Sells Industrial Property In North Arlington, NJ For $120M
38 Porete Ave, North Arlington, NJ, USA
See Similar DealsIndustrial139,255 SF
Sold 05/04/2021
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$861
Total Square Footage:139,255 SF
Transaction Type:Sale
The property asset is an industrial facility located at 38 Porete Ave., North Arlington, NJ. It was sold for $120,000,000, with a total square footage of 139,255 and a price per square foot of $862.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $120,000,000
- Square Footage: 139,255
- Price per Square Foot: $862
- Seller: Mana Group - Moishe Mana
- Market: North Arlington, NJ
Representing the seller in this transaction was Moishe Mana, associated with Mana Group, which facilitated the sale of the industrial property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,400,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$426,334.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$568,861.22
Annual Debt Service$6,826,334.65
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