facebook
Traded Co logo
Submit
Daily limit: 0/10

Morgan Stanley & Saxum Real Estate Acquire $217.5M Industrial Portfolio In East Hanover

Property Image
SOLD
$217,500,000
Austin Pierce
Jason Lundy
Nick Stefans
+ 3

New Jersey

See Similar Deals
Industrial6,000,000 SF
Sold 11/02/2023
the dealplayerscompscontact
Property Image
SOLD

Morgan Stanley & Saxum Real Estate Acquire $217.5M Industrial Portfolio In East Hanover

901 Murray Road, 903 Murray Road, 906 Murray Road, 601 Murray Road & 151 Ridgedale Avenue

See Similar Deals
Industrial6,000,000 SF
Sold 11/02/2023
Austin Pierce
Jason Lundy
Nick Stefans
+ 3
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$36
Total Square Footage:6,000,000 SF
Transaction Type:Sale

Morgan Stanley Real Estate Investing and Saxum Real Estate have acquired a 1.2 million square-foot light industrial portfolio in East Hanover for $217.5 million. The properties, located in northern New Jersey, consist of 901 Murray Road, 903-906 Murray Road, 601 Murray Road, and 151 Ridgedale Avenue. These fully occupied properties have an average clear height of 21 feet and offer 945 parking spaces.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $217,500,000
  • Square Footage: 1,200,000
  • Price per Square Foot: $181
  • Address: 901 Murray Road, 903-906 Murray Road, 601 Murray Road & 151 Ridgedale Avenue
  • Market: East Hanover

The acquisition was made by Morgan Stanley Real Estate Investing, represented by Olivier de Poulpiquet, and Saxum Real Estate, represented by Anthony Rinaldi. The deal was facilitated by brokers Austin Pierce, Jason Lundy, Jordan Avanzato, Jose Cruz, Marc Duval, and Nick Stefans from JLL.

Players

Jordan Avanzato
NAI James E. Hanson
Jordan Avanzato
52 deals$2.5B volume(214) 500-5627
BROKER
Jose Cruz
JLL
Jose Cruz
102 deals$7.9B volume(201) 240-7546
BROKER
Marc Duval
JLL
Marc Duval
47 deals$2.4B volume
BROKER
Nick Stefans
JLL
Nick Stefans
31 deals$1.6B volume
BROKER
Jason Lundy
JLL
Jason Lundy
23 deals$1.3B volume
BROKER
Austin Pierce
JLL
Austin Pierce
17 deals$1.8B volume
BROKER

Details

SOLD
IMAGE: Olivier de Poulpiquet, Anthony Rinaldi, Austin Pierce, Jason Lundy, Jordan Avanzato, Jose Cruz, Marc Duval & Nick Stefans DATE: 11/02/2023 ADDRESS: 901 Murray Road, 903-906 Murray Road, 601 Murray Road & 151 Ridgedale Avenue MARKET: East Hanover ASSET TYPE: Industrial BUYER: Morgan Stanley Real Estate Investing (@Morgan.Stanley) - Olivier de Poulpiquet; Saxum Real Estate (@Saxum_Real_Estate) - Anthony Rinaldi BROKERS: Austin Pierce, Jason Lundy, Jordan Avanzato (@JordAvz7), Jose Cruz, Marc Duval (@MarcDuval241) & Nick Stefans - JLL SALE PRICE: $217,500,000 SF: 1,200,000 ~ PPSF: $181 NOTE: Morgan Stanley Real Estate Investing and Saxum Real Estate have purchased a 1.2 million square-foot light industrial portfolio in East Hanover for $217.5 million from Urban Edge Properties, marking the year's largest industrial sale. The properties are fully occupied and located in northern New Jersey with an average clear height of 21 feet and 945 parking spaces.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$11,599,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$772,731.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,031,060.96
Annual Debt Service$12,372,731.56