Terreno Realty Corporation Acquires Industrial Property In Kearny, NJ For $26.25M
SOLD
$26,250,000
New Jersey
See Similar DealsIndustrial11,852 SF
Sold 09/27/2021
SOLD
Terreno Realty Corporation Acquires Industrial Property In Kearny, NJ For $26.25M
97 3rd Street, Kearny, NJ 07032, USA
See Similar DealsIndustrial11,852 SF
Sold 09/27/2021
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$2,214
Total Square Footage:11,852 SF
Transaction Type:Sale
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
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,399,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$93,260.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$124,438.39
Annual Debt Service$1,493,260.71
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