Terreno Realty Corporation Acquires Industrial Property In Kearny, NJ For $26.3M
97 3rd Street, Kearny, NJ 07032
$26,300,000
$2,219/SF
Building Size
11,852 SF
Asset Type
Industrial
Closing
Sep 27, 2021
AI
The industrial property located at 97 Third Street in Kearny, NJ has been sold for a total price of $26,300,000. Spanning across 5.4 acres, this property offers a significant amount of space for industrial purposes. The transaction took place on September 27, 2021, involving the buyer Terreno Realty Corporation, represented by W. Blake Baird and Michael A. Coke.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $26,300,000
- Address: 97 Third Street, Kearny, NJ
- Market: Kearny, NJ
- Acres: 5.4
Terreno Realty Corporation, represented by W. Blake Baird and Michael A. Coke, successfully acquired the industrial property at 97 Third Street. This transaction highlights the corporation's investment in the industrial sector and their strategic approach to expanding their portfolio.
Players
Kearny 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
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93