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Jeff Bezos' Amazon Fulfillment Center In South Budd Lake, NJ Secures $18M Loan From Lakeland Bank

Property Image
FINANCED
$18,000,000

New York

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Industrial
Financed 07/27/2020
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Property Image
FINANCED

Jeff Bezos' Amazon Fulfillment Center In South Budd Lake, NJ Secures $18M Loan From Lakeland Bank

81 International Dr S, Flanders, Nj 07836, Usa

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Industrial
Financed 07/27/2020
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Industrial
Transaction Type:Loan

An Industrial property located at 81 International Drive in South Budd Lake, Mount Olive Twp., NJ has undergone a closed transaction. The property is an Amazon Fulfillment Center, fully leased to @Amazon. The construction of the fulfillment center is currently underway. The property spans across 13 acres in total.

Summary of transaction details

  • Property Type: Industrial (Amazon Fulfillment Center)
  • Transaction Amount: $18,000,000
  • Acres: 13
  • Market: South Budd Lake, Mount Olive Twp., NJ
  • Lender: Lakeland Bank
  • Landlord: Dino Tomassetti
  • Tenant: @Amazon
  • Broker: Kathy Anderson - @Progress.Capital
  • Loan Image: Kathy Anderson, Jeff Bezos & Dino Tomassetti

Kathy Anderson from @Progress.Capital acted as the broker in this transaction. The deal involved a loan amount of $18,000,000 provided by Lakeland Bank. Dino Tomassetti served as the landlord for the property, while the tenant is @Amazon.

Players

Kathy Anderson
Cushman & Wakefield
Kathy Anderson
55 deals$922.6M volume(732) 720-6301
BROKER
Lakeland Bank
Lakeland Bank
LENDER
Amazon
Amazon
LENDER
AG
Asset Realty & Construction Group
LANDLORD
Amazon
Amazon
TENANT

Details

FINANCED
IMAGE: IMAGE: Kathy Anderson, Jeff Bezos & Dino Tomassetti DATE: 07/27/2020 ADDRESS: 81 International Drive MARKET: South Budd Lake, Mount Olive Twp., NJ ASSET TYPE: Industrial (Amazon Fulfillment Center) LENDER: Lakeland Bank LANDLORD: Dino Tomassetti TENANT: @Amazon BROKER: Kathy Anderson – @Progress.Capital NOTE: Fulfillment center under construction, fully leased to […] LOAN AMOUNT: $18,000,000 ACRES: 13

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$18,000,000.00

Monthly NOI$120,000.00
Monthly Debt Service$113,772.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00