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97 3rd Street, Kearny, NJ 0...

Terreno Realty Corporation Acquires Industrial Property In Kearny, NJ For $26.25M
SOLDIndustrial

Terreno Realty Corporation Acquires Industrial Property In Kearny, NJ For $26.25M

97 3rd Street, Kearny, NJ 07032, USA

$26,250,000

$2,214/SF

Building Size

11,852 SF

Asset Type

Industrial

Closing

Sep 27, 2021

AI

The industrial property located at 97 3rd Street in Kearny, NJ has been sold in a recent transaction. The property spans across approximately 5.4 acres.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $26,250,000
  • Market: Kearny, NJ
  • Buyer: Terreno Realty Corporation
  • Seller: DH Realty dba Network Transportation Specialists

The buyer in this transaction is Terreno Realty Corporation, while DH Realty dba Network Transportation Specialists acted as the seller. The deal was facilitated by brokers Patrick Lennon, Kenneth Lundberg, and Lorenzo Lambiase from NAI James E. Hanson.

Players

Patrick Lennon

NAI James E. Hanson

Broker

$29.1M

vol

3 deals

Broker
NAI Global
NAI GlobalBrokerage
Terreno Realty Corporation
Terreno Realty CorporationBuyer

Kearny Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.60%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93