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17 Hampton House Rd, Newton...

Updated Oct 29, 2024

Harbor Freight Tools Leases Retail Space In Newton To Kere Associates
LEASEDRetail

Harbor Freight Tools Leases Retail Space In Newton To Kere Associates

17 Hampton House Rd, Newton, NJ, 0...

Building Size

18,000 SF

Asset Type

Retail

Closing

Nov 20, 2023

About this deal

AI

The retail property located at 17 Hampton House Road in Newton, NJ, has been leased by Harbor Freight Tools, encompassing a total of 18,000 square feet within the Hampton Plaza Shopping Center in Hunterdon County.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not Applicable
  • Tenant: Harbor Freight Tools
  • Tenant's Rep: Marcus Bourn (Newmark)
  • Landlord: Kere Associates
  • Landlord's Rep: Lew Finkelstein (The Goldstein Group)
  • Market: Newton
  • Other Tenants at Hampton Plaza: Staples, Modell’s, A.C. Moore, KFC, T-Mobile

The Goldstein Group, through its Executive Vice President Lew Finkelstein, Vice President C.J. Huter, and Sales Associate Roy Paret, represented Kere Associates in the leasing deal. On the other side, Harbor Freight Tools was represented by Marcus Bourn and Andrew Connolly of Newmark Knight Frank. This transaction adds to Harbor Freight Tools' presence as one of the over 900 nationwide locations for the discount tool and equipment retailer.

Players

Lew Finkelstein

VanRockCRE

Broker

$125.9M

vol

31 deals

Broker
HT
Harbor Freight ToolsTenant

Newton 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

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