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
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 956 East Erie Avenue, North Philadelphia
- Market: North Philadelphia
- Tenant: Stateside Vodka
- Tenant's Representative: Jonas Skovdal & Chris Butera - Cushman & Wakefield
- Landlord: Court Street Ventures
- Landlord's Representatives: Richard Gorodesky, Brian McCurdy, Brad Boone, Adam Gorodesky & Noah Balanoff - Colliers
- Asking Rent: $13.75 per square foot
- Size: 40,000 square feet
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
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