Furniture To Go Signs Long-Term Lease With Sunkris Realty For Retail Space In Linden
1771 East Edgar Road
Building Size
15,000 SF
Asset Type
Retail
Closing
Nov 12, 2024
AI
The property involved in this transaction is a retail asset located at 1771 East Edgar Road in Linden, with a total square footage of 15,000. The landlord for this property is Sunkris Realty, LLC, which is actively expanding its portfolio through this lease agreement.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Lease Term: long-term
- Landlord: Sunkris Realty, LLC
- Tenant: Furniture to Go
- Brokers: Alana Friedman & David Townes - JLL
Furniture to Go has secured a long-term lease, marking its second store location in the market. JLL represented both Furniture to Go and Sunkris Realty in this transaction, which also includes the acquisition of an adjacent property by the landlord.
Players
Linden 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