Updated Oct 29, 2024
Greenway Products & Services Leases Industrial Building In South Brunswick Township
5 Wheeling Rd, South Brunswick Town...
Building Size
42,000 SF
Asset Type
Industrial
Closing
Nov 22, 2023
About this deal
AI
Located at 5 Wheeling Road in South Brunswick Township's Dayton section, the industrial building spans 42,000 square feet. The property boasts 21-foot ceiling heights, seven tailboards, one drive-in door, and two rail doors. Situated on more than five acres, it also offers extra land for trailer parking or outside storage. The building provides quick access to Exit 8A of the New Jersey Turnpike and routes 1 and 130, making it a strategic location for businesses.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not provided
- Landlord: Budd Development Co.
- Tenant: Greenway Products & Services
- Square Feet: 42,000
- Landlord's Rep: Stephen Nozza (Bussel Realty)
Stephen Nozza, a Senior Vice President at Bussel Realty Corp, represented the landlord, Budd Development Co., in the deal with Greenway Products & Services. This transaction marks Nozza's continued partnership with Budd Development, representing their properties for over a decade. On the tenant side, Greenway Products was represented by The Blau & Berg Co.
Players
Wellington 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93