Catherine Goski-Vasquez & Richard Goski Of NAI DiLeo-Bram Co. Broker $6M Sale Of Industrial Building In Union Township
860 Springfield Road
$6,000,000
$250/SF
Building Size
24,000 SF
Asset Type
Industrial
Closing
May 13, 2025
AI
An industrial building located at 860 Springfield Road in Union Township has been sold for $6,000,000. The asset encompasses 24,000 square feet and has a price per square foot of $250. The transaction occurred in a market characterized by a strong demand for small industrial assets within New Jersey.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $6,000,000
- Square Footage: 24,000
- Price per Square Foot: $250
- Address: 860 Springfield Road
- Market: Union Township
The transaction was brokered by Catherine Goski-Vasquez and Richard Goski of NAI DiLeo-Bram & Co. The buyer, represented by the same brokers, is a growing floor-coating distributor attracted to the property's strategic access to major highways and ports.
Players
Union 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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93