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
$156,300,000
$45/SF
Building Size
3,432,000 SF
Asset Type
Industrial
Closing
Oct 10, 2024
AI
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:
- Property Type: Industrial
- Transaction Amount: $156,300,000
- Square Footage: 572,000
- Price per Square Foot: $273
- Total Acres: 48.7
- Buyer: Ambient Capital
- Brokers involved: Christopher Todd, Scott Perkins & William Ericksen - NAI James E. Hanson
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
Kearny 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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93