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31 Styertowne Rd, Clifton, ...

H Global Commerce Inc Leases 29000 Square Feet At 31 Styertowne Rd Clifton New Jersey
LEASEDWarehouse

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

David Simone

Concourse Realty

Broker

$143.1M

vol

25 deals

Broker
Longpoint Realty Partners
Longpoint Realty PartnersLandlord

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