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227 E Front St, Plainfield,...

Family Dollar Expands Retail Lease To 10,000 SF In Plainfield Including Remodeling
LEASEDRetail

Family Dollar Expands Retail Lease To 10,000 SF In Plainfield Including Remodeling

227 E Front St, Plainfield, NJ, 07060

Building Size

10,000 SF

Asset Type

Retail

Closing

Nov 22, 2023

AI

The retail property at 227 E Front St, Plainfield, NJ, 07060, involving a total of 10,000 square feet, has been leased by Family Dollar. The retailer expanded from its initial 6,000 square feet to include an additional 4,000 square feet in the adjacent former furniture store. Family Dollar also has plans to renovate its original space in Plainfield, a southwestern suburb of New York City.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not Applicable
  • Tenant's Rep: Pete Nicholson - R.J. Brunelli & Co.
  • Landlord: Undisclosed

Danielle Brunelli and Pete Nicholson, both from R.J. Brunelli & Co., served as the tenant representatives for Family Dollar in the lease negotiations at the Plainfield property.

Players

Pete Nicholson

Broker

2 deals

Broker

Plainfield 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