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6 Shirley Ave, Franklin Tow...

CustomPictureFrames.com Acquires Property In Stanhope From Emby Hosiery Corp With Broker Christopher Griffith
SOLDIndustrial

CustomPictureFrames.com Acquires Property In Stanhope From Emby Hosiery Corp With Broker Christopher Griffith

6 Shirley Ave, Franklin Township, NJ, 0...

Building Size

45,300 SF

Asset Type

Industrial

Closing

Nov 19, 2023

AI

A 45,300-square-foot industrial building located at 6 Shirley Ave, Franklin Township, New Jersey, has been sold. The property is situated in the Stanhope market, which is known for its industrial offerings. The transaction features a unique buyer, CustomPictureFrames.com, a manufacturer specializing in picture and framing solutions, highlighting the asset's potential for manufacturing operations.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not disclosed
  • Address: 6 Shirley Ave, Franklin Township, NJ
  • Market: Stanhope
  • Buyer: CustomPictureFrames.com
  • Seller: Emby Hosiery Corp.
  • Buyer's Representative: Christopher Griffith-CBRE
  • Seller's Representative: Bussel Realty Corp.
  • Square Footage: 45,300

The transaction involved key representatives and real estate professionals. Christopher Griffith from CBRE acted as the representative for the buyer, CustomPictureFrames.com, during site selection and negotiations. Bussel Realty Corp. represented the seller, Emby Hosiery Corp., in the transaction process.

Players

Christopher Griffith

Lee & Associates

Broker

$10.4M

vol

2 deals

Broker
EC
Emby Hosiery CorpSeller

Stanhope 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93