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27 N Maple Ave, Evesham Tow...

Kuzbari Family Leases Commercial Space At 27 N Maple Ave, Evesham Township
LEASEDCommercial

Kuzbari Family Leases Commercial Space At 27 N Maple Ave, Evesham Township

27 N Maple Ave, Evesham Township...

Building Size

Asset Type

Commercial

Closing

Nov 22, 2023

AI

The newly completed transaction by Vantage Commercial involves a lease signed by the Kuzbari family for an undisclosed amount of space at Allison Shopping Center in the Marlton section of Evesham. The property located at 27 North Maple Ave. will be the future home of The Olive Pit restaurant.

Summary of transaction details:

  • Property Type: Commercial
  • Transaction Amount: Not disclosed
  • Address: 27 N Maple Ave, Evesham Township
  • Market Value: Not mentioned
  • Landlord's Rep: Mike Gries(), Monica Walsh(Vantage RES)
  • Tenant: Kuzbari Family
  • Landlord: Davis Enterprises

Monica Walsh, the director of client services at Vantage Commercial, and sales associate Mike Gries played vital roles in facilitating the deal between the Kuzbari family and landlord Davis Enterprises. The Kuzbari family, who have been in the restaurant business for 30 years, will be introducing The Olive Pit at this new location. Their menu will feature fresh meats, vegan options, and various Mediterranean cuisine, expanding their culinary offerings beyond their existing establishments.

Players

Mike Gries

Broker

1 deal

Broker

Market Commercial Market Snapshot

Boundary boundary · Commercial · 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