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Turnbridge Equities Acquires Industrial Asset From Waitex International For $91.5M In Bayonne NJ

Property Image
SOLD
$91,500,000
Christopher (Chris) Okada
EW

New Jersey

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Industrial500,000 SF
Sold 04/02/2025
the dealplayerscompscontact
Property Image
SOLD

Turnbridge Equities Acquires Industrial Asset From Waitex International For $91.5M In Bayonne NJ

169 Pulaski Street

See Similar Deals
Industrial500,000 SF
Sold 04/02/2025
Christopher (Chris) Okada
EW
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$183
Total Square Footage:500,000 SF
Transaction Type:Sale

The property asset involved in this transaction is an industrial facility located at 169 Pulaski Street in Bayonne, NJ. The transaction was completed for a sale price of $91,500,000, encompassing a total square footage of 500,000, which translates to a price per square foot of $183.

Summary of transaction details:

The transaction features key individuals, with Emanuel Westfried representing Turnbridge Equities as the buyer's representative, while Christopher Okada of Okada & Company serves as the seller's representative for Waitex International, facilitating the details of this industrial sale.

Players

Christopher (Chris) Okada
Okada & Company
Christopher Okada
84 deals$352.8M volume
BROKER
EW
Emanuel Westfried
11 deals$886.1M volume
BROKER
Turnbridge Equities
Turnbridge Equities
BUYER

Details

SOLD
IMAGE: Christopher Okada DATE: 04/02/2025 ADDRESS: 169 Pulaski Street MARKET: Bayonne, NJ ASSET TYPE: Industrial BUYER: Turnbridge Equities (@TurnBridgeEquities) SELLER: Waitex International BUYER'S REP: Emanuel Westfried SELLER'S REP: Christopher Okada (@ChrisOkada) - Okada & Company (@OkadaCo) SALE PRICE: $91,500,000 SF: 500,000 ~ PPSF: $183

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Deal Type
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Operating Expenses (Annual)
Net Operating Income (NOI)

$4,879,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$325,080.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$433,756.68
Annual Debt Service$5,205,080.17