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103 Central Ave, Mount Laur...

Locally Based Food Packaging Company Leases 26740 Square Feet At 103 Central Ave Mount Laurel NJ
LEASEDWarehouse

Locally Based Food Packaging Company Leases 26740 Square Feet At 103 Central Ave Mount Laurel NJ

103 Central Ave, Mount Laurel, NJ, 08...

Building Size

26,740 SF

Asset Type

Warehouse

Closing

Nov 20, 2023

AI

The property involved in this transaction is a 26,740-square-foot industrial space located at 103 Central Ave, Mount Laurel, NJ. This space is part of a larger 112,000-square-foot industrial building and features 17-foot clear heights. It offers convenient access to major transportation routes, specifically Interstate 295 and the New Jersey Turnpike.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Address: 103 Central Ave, Mount Laurel, NJ
  • Market: Mount Laurel
  • Tenant: Locally based Food Packaging Company
  • Landlord: Burton Real Estate
  • Tenant's Rep: Jonathan Klear (NAI Mertz)

Scott Mertz and Jonathan Klear from NAI Mertz represented the tenant during the lease negotiations. Core One Real Estate LLC acted as the representative for the landlord, Burton Real Estate, facilitating the agreement between the two parties.

Players

Scott Mertz

NAI Global

Broker

$44.9M

vol

15 deals

Broker

Mount Laurel Warehouse Market Snapshot

Boundary boundary · Warehouse · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93