Triangle Equities And Incline Capital Sign Retail Leases At The Crossings In East Orange
533 Dr. Martin Luther King Jr. Boulevard
Building Size
74,224 SF
Asset Type
—
Closing
May 26, 2026
AI
The property asset involved in the transaction is a retail space located at 533 Main Street, East Orange, NJ, encompassing a total square footage of 74,224. The market comprises a mixed-use redevelopment project that includes retail spaces and residential units. The project is currently advancing with plans for 1,000 homes and over 200,000 square feet of retail space.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 533 Main Street
- Market: East Orange, NJ
- Landlord: Lester Petracca - Triangle Equities; Rodger Bucchianeri - Incline Capital
- Tenant: Burlington, Five Below, Verizon, Newark Community Health Center, Angel Nails & Rainbow
- Broker: Jake Frantzman - Ripco
This deal represents nearly 75,000 square feet of new retail leases at The Crossings at Brick Church Station. Burlington's commitment accounts for a significant portion of the leased space with a 48,900-square-foot agreement, while Five Below contributes a lease of 9,600 square feet. The mixed-use development is adjacent to Brick Church Station and marks a significant step forward in the area's redevelopment.
Players
Market CRE Market Snapshot
Boundary boundary · CRE · 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