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285 Gordons Corner Rd, Mana...

Goldstein Group Brings 3 New Tenants To Manalapan Retail Property
LEASEDRetail

Goldstein Group Brings 3 New Tenants To Manalapan Retail Property

285 Gordons Corner Rd, Manalapan To...

Building Size

3,200 SF

Asset Type

Retail

Closing

Nov 22, 2023

AI

The property at 285 Gordons Corner Rd in Manalapan is a retail asset comprising 45,000 square feet. The recent transactions at Gordon’s Corner Center include leases totaling 9,100 square feet. The tenants include LuBella Boutique, Atlantic Physical Therapy, and Archingle’s Kitchen.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not provided in the context
  • Address: 285 Gordons Corner Rd, Manalapan
  • Market: West Palm Beach
  • Tenant's Rep: Steve Richel (Richel Commercial Brokerage)
  • Tenant: Atlantic Physical Therapy
  • Landlord: Gordon’s Corner Realty LLC
  • Square Feet: 3200

Mark Handwerker, the Executive Vice President of The Goldstein Group, represented Gordon’s Corner Realty LLC in the leases with the new tenants. Additionally, Steve Richel of Richel Commercial Brokerage LLC and Michael Sclafani of RE/MAX Central acted as representatives for Atlantic Physical Therapy and Archingle’s Kitchen, respectively. Chuck Lanyard, the president of The Goldstein Group, highlighted the community-focused nature of Gordon’s Corner and the recent expansion of the center to accommodate the increasing demand for tenants.

Players

Steve Richel

Richel Commercial Brokerage

Broker

1 deal

Broker
GL
Gordon’s Corner Realty LLCLandlord

West Palm Beach Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

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