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CRG Realty Acquires Industrial Property In Florham Park, NJ For $22.5M

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SOLD
$22,500,000

New Jersey

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Industrial125,421 SF
Sold 09/20/2022
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Property Image
SOLD

CRG Realty Acquires Industrial Property In Florham Park, NJ For $22.5M

6 Vreeland Road, Florham Park, New Jersey 07932, United States

See Similar Deals
Industrial125,421 SF
Sold 09/20/2022
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Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$179
Total Square Footage:125,421 SF
Transaction Type:Sale

An industrial property located at 6 Vreeland Rd in Florham Park, NJ, was recently sold in a transaction that took place on September 20, 2022. The property, with a total square footage of 125,421, was sold for a price of $22,500,000, resulting in a price per square foot of $179. The sale was facilitated by brokers James McNerney and John D’Amato of McBride Corporate Real Estate, who represented the buyer, CRG Realty, and the seller, VRX Realty LLC.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: $22,500,000
  • Address: 6 Vreeland Rd, Florham Park, NJ
  • Square Footage: 125,421
  • Price Per Square Foot: $179
  • Buyer: CRG Realty
  • Seller: VRX Realty LLC
  • Brokers: James McNerney & John D’Amato - McBride Corporate Real Estate

James McNerney and John D’Amato of McBride Corporate Real Estate were instrumental in facilitating the sale of the industrial property located at 6 Vreeland Rd in Florham Park, NJ. Representing the buyer, CRG Realty, and the seller, VRX Realty LLC, McNerney and D’Amato played a crucial role in negotiating and finalizing the transaction.

Players

5 deals$65.8M volume(201) 615-0762
BROKER

Details

SOLD
IMAGE: James McNerney & John D’Amato DATE: 09/20/2022 ADDRESS: 6 Vreeland Rd MARKET: Florham Park, NJ ASSET TYPE: Industrial BUYER: CRG Realty SELLER: VRX Realty LLC BROKERS: James McNerney & John D’Amato - McBride Corporate Real Estate SALE PRICE: $22,500,000 SF: 125,421 ~ PPSF: $179

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

$1,200,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$79,937.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$106,661.48
Annual Debt Service$1,279,937.75