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
West Palm Beach Retail Market Snapshot
Boundary boundary · Retail · 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