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:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 134 Neelytown Road, Montgomery, NY
- Landlord: Devin Barnwell - Brookfield Properties
- Tenant: Drew Meng - PrimeSource Building Products
- Landlord's Representative: Scott Peck & Tom Consiglio - Resource Realty
- Tenant's Representative: Art Ross & Frank Puskarich - Newmark
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
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