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1006 US Route 46

Subzi Mandi Leases 16,000 SF Retail Space At Clifton Plaza In Clifton
LEASEDRetail

Subzi Mandi Leases 16,000 SF Retail Space At Clifton Plaza In Clifton

1006 US Route 46

Building Size

16,000 SF

Asset Type

Retail

Closing

Nov 21, 2023

AI

Indian supermarket Subzi Mandi has leased 16,000 square feet at Clifton Plaza in Clifton, bringing the Passaic County shopping center to full occupancy. The retail space, located at 1006 US Route 46, is owned by Levin Management Corp. The lease transaction was facilitated by LMC Senior Leasing Representative Vanessa Fernandez-Kelty. Clifton Plaza, strategically located, attracts 1.5 million visits annually, making it an ideal location for Subzi Mandi's niche appeal.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not available
  • Square Footage: 16,000
  • Address: 1006 US Route 46
  • Market: Clifton

Ravinder Narula, the tenant, represented Subzi Mandi in the lease transaction. Leor Hemo from Vantage Commercial served as Subzi Mandi's representative. Levin Management Corp was represented by their leasing representative, Vanessa Fernandez-Kelty. The deal was made possible due to Subzi Mandi's niche appeal and the strategic location of Clifton Plaza.

Players

Vanessa Fernandez-Kelty

LEVIN Management

Broker

6 deals

Broker

Clifton 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