PGIM Real Estate Acquires Industrial Property In Phillipsburg For $275M
SOLD
$275,000,000
New Jersey
See Similar DealsIndustrial2,200,000 SF
Sold 11/12/2020
SOLD
PGIM Real Estate Acquires Industrial Property In Phillipsburg For $275M
942 Memorial Parkway, Phillipsburg, NJ 08865
See Similar DealsIndustrial2,200,000 SF
Sold 11/12/2020
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$125
Total Square Footage:2,200,000 SF
Transaction Type:Sale
The industrial property located at 942 Memorial Parkway in Phillipsburg has been sold for a price of $275,000,000. The asset spans across 2,200,000 square feet, resulting in a price per square foot of $125. The sale took place on November 12, 2020.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $275,000,000
- Square Footage: 2,200,000
- Price Per Square Foot: $125
- Address: 942 Memorial Parkway, Phillipsburg
- Market: Phillipsburg
The seller of the property was Bridge Development Partners, while the buyer was PGIM Real Estate. The deal was facilitated by Brian Fiumara of CBRE National Partners.
Players
Details
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
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$14,666,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$977,016.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,303,640.30
Annual Debt Service$15,643,683.58
Is there something missing? Send suggestions