Christopher Galiano Of NAI DiLeo-Bram & Co Represents Buyer In $8M Industrial Sale In Edison
6 Olsen Avenue
$8,000,000
$275/SF
Building Size
29,000 SF
Asset Type
Industrial
Closing
Jul 30, 2024
AI
A vacant 29,000-square-foot warehouse located at 6 Olsen Avenue in Edison, New Jersey was sold for $8,000,000. This industrial property is situated in Middlesex County's Exit 10 industrial submarket, an area known for significant rent growth and strategic access to major transportation hubs.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $8,000,000
- Square Footage: 29,000
- Address: 6 Olsen Avenue
- Market: Edison
- Price Per Square Foot: $276
- Buyer's Representative: Christopher Galiano - NAI DiLeo-Bram & Co
- Seller's Representatives: Jacklene Chesler & Patrick Norris - Colliers
The transaction underscores the strong demand for industrial properties in the region, with Colliers facilitating the sale, reflecting a robust real estate market influenced by a dense labor market.
Players
Edison Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93