Tribeca Oven Leases 53000 Square Feet At 447 Gotham Pkwy Carlstadt From Prologis 2 LP
447 Gotham Pkwy, Carlstadt, NJ, 07072
Building Size
53,000 SF
Asset Type
Warehouse
Closing
Nov 3, 2017
AI
The property at 447 Gotham Parkway is a 53,000-square-foot facility located in Carlstadt, NJ. It is owned by Prologis 2, LP and is used by Tribeca Oven for its bakery operations. The transaction involves a lease renewal for Tribeca Oven, which specializes in wholesale artisan bread manufacturing.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 447 Gotham Pkwy, Carlstadt, NJ, 07072
- Market: Carlstadt
- Tenant: Tribeca Oven
- Tenant's Representative: John Donnelly
- Landlord: Prologis 2, LP
- Square Feet: 53,000
John Donnelly from Colliers International co-brokered the lease renewal alongside JLL's Jeff Miller, who represents Tribeca Oven’s parent company, C.H. Guenther & Son Inc. Paul Rosen and Jason Tenenbaum from Prologis contributed significantly to the lease renewal process, while Brian Golden from JLL acted as the landlord representative for both properties involved in the transaction.
Players
Carlstadt 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