Updated Oct 29, 2024
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
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