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180 Kings Highway

Nicole Kushner Meyer Leases 50,000 SF Retail Space In Eatontown To Whole Foods And Other Tenants
LEASEDRetail

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

Nicole Kushner Meyer

Landlord

$1.7B

vol

11 deals

Landlord
WF
Whole FoodsTenant
C
CavaTenant

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