EverWest Real Estate Investors Acquires Industrial Property In Somerset For $27.7M
650 Randolph Road, Somerset, NJ 08873, USA
$27,700,000
$220/SF
Building Size
125,790 SF
Asset Type
Industrial
Closing
Oct 28, 2021
AI
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.
Players
Somerset 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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93