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750 Centerton Road, Mount L...

Danny Lahave's Top Terraces Acquires Mount Laurel Industrial Asset For $51M
SOLDIndustrial

Danny Lahave's Top Terraces Acquires Mount Laurel Industrial Asset For $51M

750 Centerton Road, Mount Laurel, New Jersey 08054, United States

$51,000,000

$127/SF

Building Size

400,000 SF

Asset Type

Industrial

Closing

Jul 5, 2022

AI

The industrial property located at 750, 760, 770, 780 & 790 Centerton Road in Mount Laurel has been sold for $51,000,000. Spanning over an area of 400,000 square feet, the property was acquired by Danny Lahave of Top Terraces from Regal Ventures, represented by Joey Cohen. The transaction was facilitated by Randy Blankstein of The Boulder Group.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: $51,000,000
  • Address: 750, 760, 770, 780 & 790 Centerton Road
  • Market: Mount Laurel
  • Buyer: Danny Lahave - Top Terraces
  • Seller: Regal Ventures - Joey Cohen

The involvement of Randy Blankstein as the broker from The Boulder Group played a crucial role in the successful completion of the deal. The acquisition of this industrial property highlights the growing interest and investment in the Mount Laurel market.

Players

Randy Blankstein

The Boulder Group

Broker

$347.1M

vol

70 deals

Broker

Mount Laurel 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

0.31%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93