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134 Neelytown Road

Brookfield Properties Leases 312,567 Square Foot Industrial Space To PrimeSource Building Products In Montgomery
LEASEDIndustrial

Brookfield Properties Leases 312,567 Square Foot Industrial Space To PrimeSource Building Products In Montgomery

134 Neelytown Road

Building Size

312,567 SF

Asset Type

Industrial

Closing

Dec 19, 2024

AI

The property involved in this transaction is the Maybrook Logistics Center located at 134 Neelytown Road in Montgomery, New York. It is an industrial asset with a total square footage of 312,567 square feet, providing ample space for operations supporting construction material delivery across the Northeast.

Summary of transation details:

This deal features Devin Barnwell representing Brookfield Properties as the landlord and Drew Meng representing PrimeSource Building Products as the tenant. The landlord's interests were communicated through representatives Scott Peck and Tom Consiglio from Resource Realty, whereas the tenant was represented by Art Ross and Frank Puskarich from Newmark.

Players

Frank Puskarich

Newmark

Broker

5 deals

Broker

Montgomery 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