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Sweetgreen Signs Lease For Retail Space At M Station East In Morristown

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LEASED
$38

New Jersey

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Retail2,646 SF
Leased 07/20/2023
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LEASED

Sweetgreen Signs Lease For Retail Space At M Station East In Morristown

110 Morris St Morristown, NJ 07960, USA

See Similar Deals
Retail2,646 SF
Leased 07/20/2023
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Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$38
Total Square Footage:2,646 SF
Transaction Type:Lease

Sweetgreen has signed a lease for a 2,646-square-foot space at M Station East in Morristown. The retail property, located at 110 Morris Street, is owned by SJP Properties and Scotto Properties. The lease transaction was facilitated by Alexander Erdos of SJP Properties and Glenn Beyer of Newmark, who represented the landlord. Jordan Cohn and Clare Golz of RIPCO Real Estate served as the tenant's representatives.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: N/A
  • Address: 110 Morris Street
  • Market: Morristown
  • Landlord: SJP Properties, Scotto Properties
  • Tenant: Sweetgreen
  • Landlord's Rep: Glenn Beyer - Newmark
  • Tenant's Rep: Jordan Cohn & Clare Golz - RIPCO Real Estate
  • Asking Rent: $38.70/ft.
  • Square Footage: 2,646

This lease deal marks a significant milestone for Sweetgreen, as it represents their first suburban downtown location. The addition of Sweetgreen to the retail ecosystem in Morristown is expected to bring a unique dining experience to the area.

Players

Glenn Beyer
1 deal(201) 636-8560
BROKER



SJP Properties
LANDLORD


Details

LEASED
IMAGE: Alexander Erdos, Jordan Cohn & Clare Golz DATE: 07/20/2023 ADDRESS: 110 Morris Street MARKET: Morristown ASSET TYPE: Retail LANDLORD: SJP Properties (@SJPProperties) - Alexander Erdos; Scotto Properties TENANT: Sweetgreen LANDLORD'S REP: Glenn Beyer - Newmark (@Newmark) TENANT'S REP: Jordan Cohn & Clare Golz - RIPCO Real Estate (@RipcoRealEstate) ASKING RENT: $38.70/ft. ~ SF: 2,646 NOTE: Sweetgreen has signed a lease for a 2,646-square-foot space at M Station East in Morristown. This marks their first suburban downtown location and is expected to enhance the retail ecosystem in the area.

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Deal Type
Effective Rent (Annual)

$115,267.01

Total Lease Value

$1,152,670.14

Net Landlord Cash Flow$115,267.01