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
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