Nicole Kushner Meyer Leases 50,000 SF Retail Space In Eatontown To Whole Foods And Other Tenants
180 Kings Highway
Building Size
50,000 SF
Asset Type
Retail
Closing
Mar 12, 2025
AI
The asset involved in this transaction is a retail property located at 180 Route 35 in Eatontown. The total square footage of the property is 50,000, which is part of a redevelopment project valued at $500 million. The property is noted for being a part of the Monmouth Square project, currently achieving a preleased status of 75%.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $500M
- Address: 180 Route 35
- Market: Eatontown
- Landlord: Nicole Kushner Meyer - Kushner
- Tenants: Whole Foods Market, Prince Street Pizza, Cava, Van Leeuwen Ice Cream, Offshore Coffee, STRONG Pilates
This transaction includes notable individuals such as landlord Nicole Kushner Meyer, representing Kushner, and tenant representatives Rico Macaraeg for STRONG Pilates and Jack Campbell for Offshore Coffee. The new tenants joining Whole Foods are part of a broader effort to transform Monmouth Mall into a mixed-use town center.
Players
Eatontown 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