Updated Dec 4, 2024
Robert Olender Of Roddy Facilitates Lease For Airline Hydraulics At 550 State Road
550 State Road
Building Size
28,580 SF
Asset Type
Industrial
Closing
Apr 23, 2024
About this deal
AI
The industrial property located at 550 State Road in Bensalem, Pennsylvania spans 28,580 square feet. This particular section is part of a larger 91,238-square-foot building. The lease was secured by Airline Hydraulics Corporation, a distributor of fluid power and automation products, to support its production expansion needs.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not provided
- Landlord: DGT
- Tenant: Mark Steffens - Airline Hydraulics Corporation
- Broker: Robert Olender - Roddy
Roddy Inc., a Bensalem brokerage firm, played a key role in facilitating the leasing agreement between Airline Hydraulics Corporation and the landlord, DGT. Robert Olender represented Roddy Inc. in overseeing the transaction, ensuring the successful leasing of the 28,580-square-foot section within the building.
On the Map
Industrial
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Bensalem 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