Simone Development Companies Leases 60,000 SF Industrial Space To Tesla At 40 Voice Road
40 Voice Road
$25
$25/SF
Building Size
60,000 SF
Asset Type
Retail
Closing
Aug 2, 2024
AI
The property involved in this lease transaction is an industrial asset located at 40 Voice Road, Carle Place. The asset has a total square footage of 60,000 and is leased at an asking rent of $25 per square foot. The lease is classified as long-term.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $25/ft
- Square Footage: 60,000
- Address: 40 Voice Road
- Market: Carle Place
- Landlord: Simone Development Companies
- Tenant: Tesla
- Tenant's Representatives: Brett Weinblatt & Ralph Hanan - Compass
- Lease Term: Long Term
Key individuals involved in this lease transaction include Brett Weinblatt and Ralph Hanan, who represent Tesla in this deal. They are associated with Compass, which plays a role in facilitating the lease agreement between Tesla and Simone Development Companies.
Players
Carle Place Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
634520.00%
Cash-on-Cash
-181347.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93