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956 E Erie Ave Philadelphia...

Stateside Vodka Leases 40,000 SF Of Space At Crown 95 Logistics Center In North Philadelphia
LEASEDIndustrial

Stateside Vodka Leases 40,000 SF Of Space At Crown 95 Logistics Center In North Philadelphia

956 E Erie Ave Philadelphia, PA 19134, USA

$13

$13/SF

Building Size

40,000 SF

Asset Type

Industrial

Closing

Jul 27, 2023

AI

Stateside Vodka has recently leased 40,000 square feet of space at Crown 95 Logistics Center in North Philadelphia for warehousing and distribution purposes. The industrial property, located at 956 East Erie Avenue, was completed by Court Street Ventures. The asking rent for the space was $13.75 per square foot.

Summary of transaction details

The leasing deal was facilitated by Jonas Skovdal and Chris Butera from Cushman & Wakefield, who represented the tenant, Stateside Vodka. On the other hand, Richard Gorodesky, Brian McCurdy, Brad Boone, Adam Gorodesky, and Noah Balanoff from Colliers acted as the landlord's representatives in the transaction.

Players

Jonas Skovdal

Cushman & Wakefield

Broker

$23.3M

vol

6 deals

Broker

Philadelphia 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

1220230.77%

Cash-on-Cash

-348745.70%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93