Fun City Adventure Park Leases 36500 Square Feet At 2100 N 2nd St Millville New Jersey
2100 N 2nd St, Millville, NJ, 08332
Building Size
36,500 SF
Asset Type
Retail
Closing
Nov 19, 2023
AI
Irgang Group has completed a 36,500-square-foot lease at 2100 N 2nd St, Millville, NJ 08332, within the Millville market. The space will host Fun City Adventure Park, which will occupy the majority of the former Dick’s store at the retail center. The center includes other anchors like ShopRite and Kohl’s, and notable tenants such as Boot Barn and Buffalo Wild Wings. The anticipated opening is set for mid-2023, marking Fun City’s second New Jersey location after its initial debut in Blackwood in August 2022.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not Specified
- Address: 2100 N 2nd St, Millville, NJ, 08332
- Market: Millville
- Tenant: Fun City Adventure Park
- Landlord: Irgang Group
- Tenant's Rep: Gordon Mace
- Landlord's Rep: Joseph Dougherty (Metro Commercial)
- Square Feet: 36,500
Keypoint Partners Vice President Don Mace represented Fun City Adventure Park in the lease negotiation, while Irgang Group was represented by Joseph Dougherty from Metro Commercial. Nick Zhang, Fun City's general manager, expressed enthusiasm about expanding their recreational activities to the Millville-Vineland area, emphasizing the advantageous tenant mix and geographic draw of Union Lake Crossing. Additionally, Mark Irgang, CEO of Irgang Group, noted the potential for Fun City to enhance visitor traffic and tenant appeal at the retail center.
Millville 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