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
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