Updated Dec 4, 2024
MBS Group Acquires 300,000 SF Industrial Space In Glendale, Queens
66-31 Otto Road & 66-35 Otto Road
Building Size
300,000 SF
Asset Type
Industrial
Closing
Feb 16, 2024
About this deal
AI
JLL brokers, Adam Citron and Leslie Lanne, facilitated the lease of a 300,000-square-foot industrial property located at 66-31 Otto Road & 66-35 Otto Road in Glendale, Queens. The warehouse was leased to Jason Brooks of MBS Group, also known as Manhattan Beach Studios, for the purpose of storing film equipment. The landlords of the property are GLP and Brian D Milberg - Sitex Group.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not Specified
- Address: 66-31 Otto Road & 66-35 Otto Road, Glendale, Queens
- Market: Glendale, Queens
- Tenant: Jason Brooks - MBS Group
- Landlord: GLP & Brian D Milberg - Sitex Group
- Brokers: Adam Citron & Leslie Lanne - JLL
On the Map
Industrial
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Players
Glendale 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