LBA Logistics Acquires Industrial Property On Delran Parkway For $10.7M
SOLD
$10,700,000
New Jersey
See Similar DealsIndustrial174,000 SF
Sold 12/21/2018
SOLD
LBA Logistics Acquires Industrial Property On Delran Parkway For $10.7M
400 Delran Pkwy, Delran, NJ, 08075
See Similar DealsIndustrial174,000 SF
Sold 12/21/2018
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$61
Total Square Footage:174,000 SF
Transaction Type:Sale
The industrial property located at 400 Delran Parkway in Delran, NJ, 08075, has been acquired by LBA Logistics for $10,700,000.00. The building spans 174,000 square feet and is nestled within the Delran market, situated on more than 16 acres inside the Swedes Run Business Park.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $10,700,000.00
- Address: 400 Delran Pkwy, Delran, NJ, 08075
- Square Footage: 174,000
- Market: Delran
The undisclosed seller of the industrial property at 400 Delran Parkway, previously home to a Fortune 500 company, was represented in the transaction by John Plower, Larry Maister, Dean Torosian, and Nate Demetsky of JLL Capital Markets.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$570,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$38,014.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$50,723.46
Annual Debt Service$608,681.51
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