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120 E Industry Ct, Deer Par...

Arma Container Corp Leases Industrial Property In Deer Park For 59000 Sq Ft
LEASEDIndustrial

Arma Container Corp Leases Industrial Property In Deer Park For 59000 Sq Ft

120 E Industry Ct, Deer Park, NY, 11729

Building Size

59,000 SF

Asset Type

Industrial

Closing

Mar 21, 2018

AI

The property asset involved in the transaction is a 59,000-square-foot industrial building located at 120 E Industry Ct, Deer Park, NY, 11729. It is situated in the Deer Park market and encompasses a 2.9-acre lot. The building features an 18-foot clear ceiling height and is equipped with five loading docks. Previously, it was occupied by L&R Distributors, a cosmetics distributor based in Brooklyn, before they ceased operations on Long Island.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Address: 120 E Industry Ct, Deer Park, NY, 11729
  • Square Feet: 59,000
  • Market: Deer Park
  • Landlord: 990 Metropolitan Avenue LLC
  • Tenant: Arma Container Corp.
  • Landlord's Representative: Mario Asaro - Industry One Realty Corporation

Arma Container Corp., a custom packaging manufacturer, is leasing the property to expand its operations. The company already occupies another industrial building nearby at 65 North Industry Court. Mario Asaro of Industry One Realty Corporation represented both Arma and the landlord, 990 Metropolitan Avenue LLC, in this lease transaction.

Players

Mario Asaro

Industry One Realty Corporation

Broker

$7.4M

vol

3 deals

Broker

Deer Park Industrial Market Snapshot

Boundary boundary · Industrial · 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