600 Perry Street and 39 Escher Street, Trenton, NJ

Asking: $ 2,000,000

Description

Marketing Description

There are two major improvements on the property. The front building which corners on Southard Street and Perry Street consists of 39,351+/- SF. The building served primarily as the home of the Trentonian, a local tabloid. The building was used as production, printing and office space.

There are two floors in the front building. The building breaks down to approximately 26,200+/- SF of office on the two floors and the balance on the first floor is warehouse space, which is approximately 13,143+/- SF. The ceiling heights on the front building vary from 12 to 24+feet. The exterior is all masonry and brick and the roof is built up type low slope. The floors consist of carpeting, ceramic tiling and vinyl (VCT). There are a total of nine (9) lavatories in the building.

The office space on the first and second floor have acoustical tile, drop ceilings tile and carpeting. The first floor also contains the warehouse space which has 18+/- to 28+/- clear ceiling heights, one (1) drive in and two (2) loading docks. 

The electrical service in the building is 480+/- amps 3 phase service. The building is heated with a gas fired hydronic boiler. Rooftop packaging cooling units and fueled by gas. There is wet and dry sprinkler systems throughout the building. 
The rear building totaling 12,590+/- SF has 2 lavatories. The building is primarily used as storage for sheetrock and other related building materials. It is masonry frame with steel high beams. The interior ceiling height is 18+/- ft. and is a masonry brick and block building. The building has a flat rubber roof that was replaced in 1999. There is one (1) drive in and two (2) loading docks. There is a 220+/- amp, three (3) phase service. The building is heated with an oil furnace. There are wet and dry sprinklers in this building. 

The building is presently occupied by the Trentonian. It has a lease in place that runs through April 5, 2020. The annual rent for the lease is $301,752.00. The Trentonian is willing to vacate the premises earlier but there is a sub-tenant in the rear building that leases from the tenant. The sub-tenant is a distributor for sheetrock and other materials. We are currently unsure when the sub-tenant will vacate but must leave when the Trentonian vacates (04/2020). These buildings are in relatively good condition and are a great opportunity for anyone doing warehouse or distribution and want access to major infrastructure. The building abuts the Trenton Police station.  

Property is in an opportunity zone which provides excellent tax incentives. 

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