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1 Orient Way

Prism Capital Partners Leases Retail Space To Club Pilates And JAG PT At 1 Orient Way
LEASEDRetail

Prism Capital Partners Leases Retail Space To Club Pilates And JAG PT At 1 Orient Way

1 Orient Way

Building Size

5,750 SF

Asset Type

Retail

Closing

Mar 5, 2024

AI

Located at 1 Orient Way in Rutherford, the retail property spans 5,750 square feet and is situated in a prime location within Rutherford's town center. The area offers convenient transit access and is close to amenities such as the Meadowlands Sports Complex and American Dream mall.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not provided
  • Landlord: Jon Hoff - Prism Capital Partners
  • Tenant: Club Pilates ; John Gallucci Jr - JAG Physical Therapy
  • Broker: Deborah Stone - Ripco

Prism Capital Partners, the landlord of the property at 1 Orient Way, announced the leasing of space to two national retail tenants, Club Pilates and JAG Physical Therapy. President Jon Hoff highlighted the property's strategic location in Rutherford, emphasizing its proximity to key attractions and easy access to transportation.

Players

Deborah Stone

Ripco

Broker

6 deals

Broker

Rutherford 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