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Planet Fitness Signs Lease For 21850 Square Feet At Blue Star Shopping Center In Watchung

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LEASED
E.J. Moawad
Jack Chera

New Jersey

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Retail21,850 SF
Leased 12/04/2024
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Property Image
LEASED

Planet Fitness Signs Lease For 21850 Square Feet At Blue Star Shopping Center In Watchung

1701 US Route 22

See Similar Deals
Retail21,850 SF
Leased 12/04/2024
E.J. Moawad
Jack Chera
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$0
Total Square Footage:21,850 SF
Transaction Type:Lease

The asset involved in this transaction is a retail property located at 1701 US Route 22 in Watchung. This space encompasses 21,850 square feet within the Blue Star Shopping Center, which has a total area of 420,000 square feet and is currently undergoing a major redevelopment.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 1701 US Route 22
  • Market: Watchung
  • Asset Size: 21,850 SF
  • Tenant: Planet Fitness
  • Landlord's Representative: E.J. Moawad - LEVIN Management
  • Tenant's Representative: Jack Chera - Ripco

The lease was negotiated by E.J. Moawad representing the landlord, while Jack Chera represented the tenant, Planet Fitness. This agreement signifies a pivotal step in the revitalization of the retail space at Blue Star Shopping Center.

Players

E.J. Moawad
LEVIN Management
E.J. Moawad
7 deals(908) 226-5266
BROKER
Jack Chera
Ripco
Jack Chera
2 deals(516) 933-8880
BROKER
Crown Retail Services
Crown Retail Services
BROKERAGE

Details

LEASED
IMAGE: Colleen Keating, E.J. Moawad & Jack Chera DATE: 12/04/2024 ADDRESS: 1701 US Route 22 MARKET: Watchung ASSET TYPE: Retail ~ SF: 21,850 TENANT: Colleen Keating - Planet Fitness (@PlanetFitness) LANDLORD'S REP: E.J. Moawad - LEVIN Management (@LevinMgt) TENANT'S REP: Jack Chera - Ripco (@RipcoRealEstate) NOTE: Planet Fitness signed a lease for 21,850 square feet at Blue Star Shopping Center, a 420,000-square-foot retail center on Route 22 undergoing a major redevelopment. The lease was negotiated by E.J. Moawad for the landlord and Jack Chera of RIPCO for the tenant.

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Deal Type
Effective Rent (Annual)

$1,252,428.81

Total Lease Value

$12,524,288.15

Net Landlord Cash Flow$1,252,428.81