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285 Gordons Corner Rd, Mana...

Archingle’s Kitchen Leases Industrial Space At 285 Gordons Corner Rd, Manalapan's West Palm Beach
LEASEDIndustrial

Archingle’s Kitchen Leases Industrial Space At 285 Gordons Corner Rd, Manalapan's West Palm Beach

285 Gordons Corner Rd, Manalapan To...

Building Size

1,900 SF

Asset Type

Industrial

Closing

Nov 20, 2023

AI

The property at 285 Gordons Corner Rd, Manalapan, is an industrial asset comprising 1,900 square feet. It serves as the future location for Archingle’s Kitchen, a Bakery & Balloons establishment.

Summary of transaction details:

The leasing deals at Gordon’s Corner Center also include commitments from LuBella Boutique and Atlantic Physical Therapy. LuBella Boutique, expanding from New York City, will occupy 4,000 square feet in its first New Jersey store. Represented by Steve Richel of Richel Commercial Brokerage LLC, Atlantic Physical Therapy secured a 3,200-square-foot space alongside Archingle’s Kitchen within the strip center.

Players

Mark Handwerker

The Goldstein Group

Broker

7 deals

Broker
GL
Gordon’s Corner Realty LLCLandlord

West Palm Beach 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