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
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