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550 State Road

Updated Dec 4, 2024

Robert Olender Of Roddy Facilitates Lease For Airline Hydraulics At 550 State Road
LEASEDIndustrial

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.

Players

Robert Olender

Roddy

Broker

1 deal

Broker

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

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