Woodmont Properties Leases 1500 Square Feet To Vivian’s Nails N’ Spa At 253 Hurffville - Cross Keys Rd
253 Hurffville - Cross Keys Rd, Washin...
Building Size
1,500 SF
Asset Type
Retail
Closing
Nov 20, 2023
AI
The property lease involves a retail space located at 253 Hurffville - Cross Keys Rd in Washington Township. This lease encompasses 1,500 square feet of area and is part of a new standalone retail building within the Washington Square Town Center project, which will feature additional retail space in the future.
Summary of transaction details:
- Property Type: Retail Lease
- Transaction Amount: Not Disclosed
- Landlord: Woodmont Properties
- Tenant: Vivian’s Nails N’ Spa
- Landlord's Representative: Joe Raniszewski - MSC Retail
- Other Tenants: PetCheck Urgent Care (2,600 sq ft), Strive Physical Therapy and Sports Rehabilitation (2,100 sq ft)
- Total Square Footage of Retail Building: 10,000 sq ft
The leasing transactions were facilitated by Joe Raniszewski from MSC Retail, who represented both Atkins Cos. and Woodmont Properties. The Washington Square Town Center project is designed to be a mixed-use community that will include retail, residential apartments, townhomes, and a medical office building. The center aims to establish vibrant retail operations to enhance the community's appeal.
Players
Market 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