Updated May 23, 2024
Robert Nathin Of Sheldon Gross Realty Brokers $30M Fairfield Mixed-Use Portfolio Sale
10 Industrial Rd, Fairfield, NJ, 07004
$30,000,000
$95/SF
Building Size
315,800 SF
Asset Type
Mixed-use
Closing
Nov 22, 2023
About this deal
AI
An institutional owner has acquired a seven-building, 315,800-square-foot portfolio in Fairfield for more than $30 million. The portfolio includes a mix of industrial and flex office buildings located at 10 Industrial Rd, Fairfield, NJ, 07004. The sale is a significant transaction that highlights the strength of the Essex County township's real estate market.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $30,000,000.00
- Market: Fairfield
- Seller's Rep: Robert "Bob" Nathin()
- SF: 315,800
Robert Nathin, an executive vice president at Sheldon Gross Realty, represented the seller in this transaction. The deal also involved Marcy Gross, another executive vice president at the firm who served as the longtime property manager of the portfolio. Nathin's and Gross's extensive experience with the properties spanning over 20 years provided valuable insights and knowledge during the sale process, ensuring a smooth and transparent transaction for the parties involved.
Players
Fairfield Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93