2nd Street, StretchLab, Mochimoly, Gong Cha & German Donner Kebob Lease Retail Spaces In Westfield, NJ
125 E Broad Street Westfield, New Jersey 07090, USA
Building Size
11,153 SF
Asset Type
Retail
Closing
Jun 23, 2023
AI
The recent lease activity in Downtown Westfield, New Jersey, has attracted several notable tenants. One of them is international consignment brand 2nd Street, which secured a 5,812-square-foot space at 167 East Broastad Street. In addition, national health and wellness concept StretchLab has leased a 2,091-square-foot facility at 161 East Broastad Street. Other tenants who have secured spaces in the area include Mochimoly, Gong Cha, and German Donner Kebob. The total square footage of the retail space leased in this transaction is 11,153 square feet.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 167, 161, 131, 129 & 125 East Broastad Street
- Market: Westfield
- Tenant: 2nd Street, StretchLab, Mochimoly, Gong Cha & German Donner Kebob
- Landlord's Representative: David Townes & Alana Friedman - JLL
- Tenant's Representatives: Siegel & Andrew Connolly - Newmark ; Francisco Lugo - Christies International Real Estate ; Zach Diamond - Katz NYC
This lease transaction in Downtown Westfield involved the representation of 2nd Street by their broker representatives, Siegel & Andrew Connolly from Newmark, Francisco Lugo from Christies International Real Estate, and Zach Diamond from Katz NYC. The successful lease agreements highlight the demand for retail spaces in the area and the confidence of these tenants in the local market.
Players
New Jersey 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