Data Center · Secaucus, NJ
Equinix NY4 (Secaucus Campus)
755 Secaucus Road, Secaucus, NJ · Built 1992 · 1 floors
Partial
Current value
$820.0M
▲ 5.1% 1-yr (modeled)
Cap rate
5.90%
▲ 90 bps vs 5.00% submarket
NOI · derived
$48.4M
Value $/SF
$2,412
sourcedmodeled0 of 6 sourced
Ownership & debt
Ownership graph
Asset → owner → parent → beneficial owner · every edge sourcedOwnership transparency
Recorded chainRecorded owners
Equinix, Inc. (operator/tenant); the underlying land and building at 755 Secaucus Road are owned by Hartz Mountain Industries (ground/building lessor)
Fee simple
Ultimate beneficial owner — as recorded
Equinix, Inc.
US-DE · Corporation · Beneficial interest
Equinix, Inc. (NASDAQ: EQIX), a publicly traded data-center REIT, operates the facility under a long-term lease. The underlying Secaucus real estate is owned by Hartz Mountain Industries, a privately held company owned and run by the Stern family (Leonard N. Stern). (Correction: there is no Kushner connection — Hartz Mountain is a Stern-family company.)
Beneficial interest
Corporate structures from GLEIF LEI Level-1/Level-2 data (CC0, golden copy 2026-07-26). Methodology
Debt
No publicly recorded debt
Debt appears here only when a recorded mortgage, deed of trust or securitization filing names this asset — nothing is inferred from ownership or market norms.
Securitized debt — SEC loan tape
No SEC ABS-EE loan-level filing is matched to this asset. Public loan tapes exist only for SEC-registered CMBS — most large-asset debt is 144A-private, balance-sheet or agency financed and files none.
Tenants & leasing
estimatedOccupancy
76.5%
Top-3 concentration
100%
| Tenant | Floors | GLA (SF) | % GLA | Base rent $/SF | Lease expiration |
|---|---|---|---|---|---|
| Multi-tenant co-location (500+) | Raised floor | 260k SF | 76.5% | — | — |
Underwriting
Assumptions — user inputs, not sourced data: 5-year hold · exit cap +25 bps vs today · 3.0% NOI growth per year.
Assumptions — user inputs, not sourced data
Hold period
Exit cap vs today
+25 bps
NOI growth / yr
3.0%
Unlevered IRR
8.3%
Exit cap
6.15%
Exit value
$912.3M
Exit NOI
$56.1M
Unlevered IRR sensitivity — exit cap Δ × NOI growth
| Exit Δ | 2.0% | 2.5% | 3.0% | 3.5% | 4.0% |
|---|---|---|---|---|---|
| -25 bps | 8.8% | 9.4% | 9.9% | 10.4% | 11.0% |
| 0 bps | 8.0% | 8.6% | 9.1% | 9.6% | 10.1% |
| +25 bps | 7.3% | 7.8% | 8.3% | 8.9% | 9.4% |
| +50 bps | 6.6% | 7.1% | 7.6% | 8.1% | 8.7% |
| +75 bps | 5.9% | 6.4% | 6.9% | 7.5% | 8.0% |
Modeled output — not investment advice. Derived from the assumptions above, not sourced claims.
Provenance footnotes
- Current value: Estimated — no sourced claim on file.
- Cap rate: Estimated — no sourced claim on file.
- NOI: Estimated — no sourced claim on file.
- $/SF: Estimated — no sourced claim on file.
- GLA: Estimated — no sourced claim on file.
- Ownership — Equinix, Inc. (operator/tenant); the underlying land and building at 755 Secaucus Road are owned by Hartz Mountain Industries (ground/building lessor): Single source — costar.com · https://www.costar.com/article/65368/equinix-leases-340000-sf-in-secaucus
- Tenant — Multi-tenant co-location (500+): Estimated — no sourced claim on file.
Modeled figures — LTV, debt yield, DSCR, cash-on-cash, occupancy, WALT, tenant concentration and every underwriting output are derived arithmetic, not sourced claims. Underwriting outputs follow the assumptions printed in the panel — user-editable inputs, not observations. Not investment advice.
Anchoring begins when the asset enters the live ledger.