Updated Oct 28, 2024
Fabi-Saa Inc Acquires Industrial Property On Morris Avenue In Newark, NJ For $2.2M
61 Morris Avenue, Newark, NJ, USA
$2,200,000
$157/SF
Building Size
14,000 SF
Asset Type
Industrial
Closing
May 11, 2021
About this deal
AI
The industrial property located at 61 Morris Avenue in Newark, NJ has been sold. The property consists of a 14,000 SF warehouse building along with a 10,000 SF parking lot. The transaction took place on May 12, 2021, with a sale price of $2,200,000. The buyer, Fabi-Saa Inc, acquired the property from the seller, EKL Associates LLC, with the assistance of LRES (Logistics Real Estate Services) as the broker.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $2,200,000
- Address: 61 Morris Avenue, Newark, NJ
- Market: Newark, NJ
- Buyer: Fabi-Saa Inc
- Seller: EKL Associates LLC
- Broker: LRES (Logistics Real Estate Services)
- Square Footage: 14,000 SF
- Price per Square Foot: $157
The buyer, Fabi-Saa Inc, has successfully acquired the warehouse and parking lot. The transaction showcases the demand for industrial properties in Newark, NJ. With the assistance of LRES, Fabi-Saa Inc was able to secure a valuable asset for their business needs.
Players
Newark 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
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93