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192 Bloomfield Avenue, Bloo...

Pizza Hut Leases Retail Space In Bloomfield, NJ With Tenant's Rep Bruce Herman & Landlord's Rep Jerry Welkis
LEASEDRetail

Pizza Hut Leases Retail Space In Bloomfield, NJ With Tenant's Rep Bruce Herman & Landlord's Rep Jerry Welkis

192 Bloomfield Avenue, Bloomfield, New Jersey 07003, United States

Building Size

1,500 SF

Asset Type

Retail

Closing

Jun 18, 2022

AI

The retail property located at 192 Bloomfield Ave in Bloomfield, NJ has been leased to Pizza Hut. The lease transaction was finalized on June 19, 2022. The property, spanning 1,500 square feet, was represented by Bruce Herman from Booth Capital on behalf of Pizza Hut, and Jerry Welkis from Welco Realty represented the landlord, L. Peres & Associates. The asking rent for the space was $50 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: N/A
  • Address: 192 Bloomfield Ave, Bloomfield, NJ
  • Tenant: Pizza Hut
  • Tenant's Representative: Bruce Herman - Booth Capital
  • Landlord: L. Peres & Associates
  • Landlord's Representative: Jerry Welkis - Welco Realty
  • Asking Rent: $50 per square foot
  • Square Footage: 1,500

The lease transaction represents a successful collaboration between Pizza Hut, represented by Bruce Herman from Booth Capital, and L. Peres & Associates, the landlord, represented by Jerry Welkis from Welco Realty.

Players

Bruce Herman

Booth Street

Broker

$41.1M

vol

22 deals

Broker
Pizza Hut
Pizza HutTenant

Bloomfield 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