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
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