H Global Commerce Inc Leases 29000 Square Feet At 31 Styertowne Rd Clifton New Jersey
31 Styertowne Rd, Clifton, NJ, 07012
Building Size
29,000 SF
Asset Type
Warehouse
Closing
Nov 19, 2023
AI
A commercial glass distributor has leased 29,000 square feet of warehouse space located at 31 Styertowne Rd, Clifton, NJ, in the Clifton market. The transaction involves Longpoint Realty Partners as the landlord, following their recent acquisition of the property, which is part of a two-building campus situated just off Route 3 and 12 miles from Manhattan. The facility features multiple loading docks, drive-in doors, and ample parking. Ownership plans to enhance the property with window replacements and LED lighting installations.
Summary of transation details:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Tenant: H Global Commerce Inc
- Landlord: Longpoint Realty Partners
- Tenant's Representative: David Simone - Concourse Realty
- Landlord's Representative: Josh Krantz - Lee & Associates
- Square Feet: 29,000
- Address: 31 Styertowne Rd, Clifton, NJ, 07012
The lease was facilitated by Lee & Associates New Jersey, with Josh Krantz, Michael Schaible, and Troy Wisse involved in the assignment. David Simone represented the tenant, H Global Commerce Inc. The deal underscores the interest in the greater Clifton industrial submarket, with strong demand from prospects primarily coming from New York City due to the location's strategic convenience and access to major highways.
Players
Clifton 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