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21 Nj-27, Edison, NJ, 08820

Frappe Joe's Coffee Leases 1200 SF Commercial Space In Edison, NJ
LEASEDCommercial

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.

Players

Matthew Weiss

Weiss Realty Co.Inc.

Broker

3 deals

Broker

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