Updated Oct 29, 2024
KB Furniture & Kenover Marketing Acquires Industrial Property In Pennsauken For $18M
6851 River Road, Pennsauken Township, NJ, USA
$18,000,000
$46/SF
Building Size
390,498 SF
Asset Type
Industrial
Closing
Oct 7, 2020
About this deal
AI
The industrial property located at 6851 River Road & 9130 Griffith Morgan Lane in Pennsauken has been sold for a price of $18,000,000. The property spans a total area of 390,498 square feet and has been acquired by KB Furniture & Kenover Marketing from the seller, Simmons Pet Food. The transaction was facilitated by Chris Pennington from Binswanger Commercial Real Estate Services.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $18,000,000
- Address: 6851 River Road & 9130 Griffith Morgan Lane
- Market: Pennsauken
Chris Pennington from Binswanger Commercial Real Estate Services played a pivotal role as the broker in this deal. His expertise and negotiation skills helped bring together the buyer, KB Furniture & Kenover Marketing, and the seller, Simmons Pet Food, to successfully close the transaction.
Players
Pennsauken 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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93