Frappe Joe's Coffee Leases 1200 SF Commercial Space In Edison, NJ
21 Nj-27, Edison, NJ, 08820
Building Size
1,200 SF
Asset Type
Commercial
Closing
Nov 20, 2023
AI
A café operator has leased 1,200 square feet of commercial space located at 21 Nj-27, Edison, NJ, 08820, within the Edison market. This recently completed lease involves the premises at the Colonial Village Shopping Center, situated at the intersection of Route 27 and Parsonage Road. Frappe Joe’s Coffee will occupy this space, which is being leased from Colonial Village Associates LLC, and will replace a Starbucks that has relocated nearby.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: Not disclosed
- Address: 21 Nj-27, Edison, NJ, 08820
- Square Feet: 1200
- Tenant: Frappe Joe’s Coffee
- Landlord: Colonial Village Associates LLC
- Tenant's Representative: Suketu Shah-Colliers International
- Landlord's Representative: Matthew Weiss-Weiss Realty Co.Inc.
Matthew Weiss, acting on behalf of Colonial Village Associates LLC, facilitated the lease agreement for the shopping center. The tenant aims to launch operations this summer, focusing on providing freshly baked goods, hummus, salads, and a selection of locally roasted coffee and drinks. Suketu Shah represented Frappe Joe’s Coffee in this transaction, which is expected to enhance the shopping center's tenant mix.
Edison 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