EverWest Real Estate Investors Acquires Industrial Property In Somerset For $27.7M
SOLD
$27,700,000
+ 1
New Jersey
See Similar DealsIndustrial125,790 SF
Sold 10/28/2021
SOLD
EverWest Real Estate Investors Acquires Industrial Property In Somerset For $27.7M
650 Randolph Road, Somerset, NJ 08873, USA
See Similar DealsIndustrial125,790 SF
Sold 10/28/2021
+ 1
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$220
Total Square Footage:125,790 SF
Transaction Type:Sale
The industrial property located at 650 Randolph Road in Somerset was recently sold for a price of $27,700,000. The property spans a total area of 125,790 square feet, resulting in a price per square foot of $220. The sale took place on October 28, 2021.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $27,700,000
- Address: 650 Randolph Road
- Market: Somerset
The buyer in this transaction was EverWest Real Estate Investors, represented by Stephen Feinberg. The seller of the property was Citgen Realty LLC. The deal was facilitated by brokers Joel Lubin, John Buckley, and Gary Politi from JLL.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,477,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$98,412.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$131,312.13
Annual Debt Service$1,575,745.58
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