Carl Palazzolo Leases 4.09 Acres Industrial Outdoor Storage To Herc Rentals Inc For $70,000 Monthly

The asset involved in this transaction is an Industrial Outdoor Storage property located at 80 Sherwood Avenue in Farmingdale, comprising 4.09 acres. The lease designated a monthly rent of $70,000, calculated on a triple net lease basis at a rate of $4.67 per square foot. The lease term is set for 20 years, indicating a long-term commitment between the landlord and tenant.

Summary of transaction details:

• Property Type: Industrial Outdoor Storage
• Transaction Amount: $70,000 NNN monthly rent
• Address: 80 Sherwood Avenue
• Market: Farmingdale
• Landlord: Carl Palazzolo
• Tenant: Herc Rentals Inc
• Brokers: Gary J Chimeri & Michael Berndt - Paramount Properties Group
• Acres: 4.09
• Lease Term: 20 years
• Lease Type: NNN Lease

The individuals facilitating this transaction include Carl Palazzolo, representing the landlord, and Herc Rentals Inc, the tenant in the agreement. The brokers involved are Gary J Chimeri and Michael Berndt from Paramount Properties Group, who played a crucial role in the completion of the lease arrangement.