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447 Gotham Pkwy, Carlstadt,...

Tribeca Oven Leases 53000 Square Feet At 447 Gotham Pkwy Carlstadt From Prologis 2 LP
LEASEDWarehouse

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

John Donnelly

Broker

$70M

vol

4 deals

Broker
Prologis
PrologisBrokerage
Prologis
PrologisLandlord

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