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
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