Bareburger Leases Mixed-Use Space At 143 Newark Ave In Jersey City, NJ With Landlord's Rep Colby Piper & Lisa Rica - RIPCO Real Estate LLC
143 Newark Avenue, Jersey City, NJ 07302, USA
Building Size
8,900 SF
Asset Type
Mixed-use
Closing
Sep 28, 2021
AI
143 Newark Ave, a mixed-use property located in Jersey City, NJ, was recently leased. The tenant, Bareburger, signed a lease agreement for the space. The lease was brokered by Colby Piper and Lisa Rica of RIPCO Real Estate LLC. The asking rent for the 8,900 square feet space was $70 per square foot.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Date: 09/28/2021
- Address: 143 Newark Ave, Jersey City, NJ
- Tenant: Bareburger
- Landlord's Representative: Colby Piper & Lisa Rica - RIPCO Real Estate LLC
- Asking Rent: $70 per square foot
- Space: 8,900 square feet
Colby Piper and Lisa Rica from RIPCO Real Estate LLC played a crucial role as the landlord's representatives in facilitating the lease transaction between Bareburger and the property owner.
Players
Jersey City Mixed-use Market Snapshot
Boundary boundary · Mixed-use · 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