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500 Ben Fairless Drive

Cirro Leases 517641 Square Feet Industrial Space At Keystone Trade Center In Fairless Hills PA
LEASEDIndustrial

Cirro Leases 517641 Square Feet Industrial Space At Keystone Trade Center In Fairless Hills PA

500 Ben Fairless Drive

Building Size

517,641 SF

Asset Type

Industrial

Closing

Feb 17, 2025

AI

The property asset involved in this transaction is an industrial space located at 500 Ben Fairless Drive, Fairless Hills, PA. The total square footage of the leased space is 517,641 square feet, situated within Keystone Trade Center. The lease agreement was finalized on February 17, 2025.

Summary of transaction details:

This transaction involved multiple representatives; the landlord, Northpoint Development, was represented by KBC Advisors and Colliers, while the tenant, Cirro, was represented by Lee & Associates. The involvement of these brokerage teams played a crucial role in facilitating the lease agreement between the parties.

Players

Tom Golarz

Colliers

Broker

2 deals

Broker

Morrisville 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