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84-10 Jamaica Avenue

ReadySpaces Leases 115,989 SF Industrial Space In Queens From KABR Group With Brokers Cushman & Wakefield & Avison Young
LEASEDIndustrial

ReadySpaces Leases 115,989 SF Industrial Space In Queens From KABR Group With Brokers Cushman & Wakefield & Avison Young

$20

$20/SF

Building Size

115,989 SF

Asset Type

Industrial

Closing

Jan 1, 2024

AI

ReadySpaces has signed a 10-year lease for an industrial property located at 184-10 Jamaica Avenue in Queens. The property spans approximately 115,989 square feet and is owned by KABR Group. The lease is a modified gross lease, and the asking rent for the space is $20 per square foot.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: Not available
  • Address: 184-10 Jamaica Avenue
  • Market: Queens

The deal was facilitated by three brokers. Joseph Hentze Jr, representing Cushman & Wakefield, played a role in the transaction. Joseph Lagano and Reid Berch, from Avison Young, also represented the parties involved in the lease agreement.

Players

Reid Berch

Avison Young

Broker

$73.5M

vol

2 deals

Broker
KABR Group
KABR GroupLandlord

Market Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

793150.00%

Cash-on-Cash

-226684.70%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93