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:
- Property Type: Industrial
- Transaction Amount: Not specified
- Market: West Palm Beach
- Tenant's Rep: Michael Sclafani (Re/Max)
- Landlord's Rep: Mark Handwerker (The Goldstein Group)
- Tenant: Archingle’s Kitchen
- Landlord: Gordon’s Corner Realty LLC
- Square Feet: 1900
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
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