Updated Dec 4, 2024
ReadySpaces Leases 115,989 SF Industrial Space In Queens From KABR Group With Brokers Cushman & Wakefield & Avison Young
Building Size
115,989 SF
Asset Type
Industrial
Closing
Jan 1, 2024
About this deal
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
Market 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
793150.00%
Cash-on-Cash
-226684.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93