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Ambient Capital Acquires Industrial Properties In Kearny & Harrison For $156.3 Million

Property Image
SOLD
$156,300,000

New Jersey

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Industrial3,432,000 SF
Sold 10/10/2024
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Property Image
SOLD

Ambient Capital Acquires Industrial Properties In Kearny & Harrison For $156.3 Million

433 Bergen Avenue, 505 Manor Avenue, 401 Supor Boulevard, 500 Supor Boulevard, 310 Manor Avenue & 129 Sanford Avenue

See Similar Deals
Industrial3,432,000 SF
Sold 10/10/2024
Contact now

Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$45
Total Square Footage:3,432,000 SF
Transaction Type:Sale

The property asset involved in this transaction includes several industrial locations at 433 Bergen Avenue, 505 Manor Avenue, 401 Supor Boulevard, 500 Supor Boulevard, 310 Manor Avenue, and 129 Sanford Avenue. The total sale price for this portfolio amounts to $156,300,000, covering a substantial area of 572,000 square feet with a price per square foot of $273. The combined acreage for the properties totals 48.7 acres, located within the Kearny & Harrison market.

Summary of transaction details:

This transaction highlights the collaboration between Ambient Capital and the brokerage team from NAI James E. Hanson, represented by Christopher Todd, Scott Perkins, and William Ericksen, who facilitated the agreement in the Kearny & Harrison market. The deal marks a significant industrial acquisition within the region.

Players

Scott Perkins
7 deals$256.4M volume
BROKER

William "Will" Ericksen
NAI James E. Hanson
8 deals$267.7M volume(973) 309-3051
BROKER

Christopher Todd
NAI James E. Hanson
7 deals$355.6M volume(201) 961-5283
BROKER

Details

SOLD
IMAGE: Christopher Todd, Scott Perkins, William Ericksen, Steve Azar & Pat Hackett DATE: 10/10/2024 ADDRESS: 433 Bergen Avenue, 505 Manor Avenue, 401 Supor Boulevard, 500 Supor Boulevard, 310 Manor Avenue & 129 Sanford Avenue MARKET: Kearny & Harrison ASSET TYPE: Industrial BUYER: Ambient Capital BROKERS: Christopher Todd, Scott Perkins & William Ericksen - NAI James E. Hanson (@Nai_Hanson) SALE PRICE: $156,300,000 SF: 572,000 ~ PPSF: $273 ACRES: 48.7

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$8,335,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$555,300.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$740,941.74
Annual Debt Service$8,891,300.89