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.
Stanhope 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93