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Lease · Retail

Dave's Hot Chicken To Open Second New Jersey Location In Kearny Commons
LEASEDRetail

Dave's Hot Chicken To Open Second New Jersey Location In Kearny Commons

Building Size

2,316 SF

Asset Type

Retail

Closing

Nov 28, 2023

AI

Dave's Hot Chicken will open its second New Jersey location in Kearny Commons at 175 Passaic Ave, occupying 2,316 square feet. The fast-growing chain is known for its hot chicken sliders and tenders. The fully leased property spans 123,345 square feet and is set to welcome Dave's Hot Chicken in the second quarter of 2024. Dave's Hot Chicken will join other national retailers at the location.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Market: Kearny
  • Address: 175 Passaic Avenue
  • Asset Type: Retail
  • Square Footage: 2,316

Urban Edge Properties, represented by Justin Lustig, is the landlord of 175 Passaic Avenue. Dave's Hot Chicken, represented by Bill Phelps, is the tenant. Jay Miller from CBRE served as the landlord's representative for the transaction.

Players

Jay Miller

CBRE

Broker

1 deal

Broker
Urban Edge Properties
Urban Edge PropertiesLandlord

Market 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