Barnes & Noble Booksellers Relocates To Union Plaza In Union, NJ
2401 US Route 22
$25
$25/SF
Building Size
15,000 SF
Asset Type
Retail
Closing
Aug 17, 2022
AI
Barnes & Noble Booksellers LLC has secured a lease for a retail space in Union, NJ. The property is located at 2401 US-22 and spans approximately 15,000 square feet. The landlord, United Leasehold, LLC, negotiated the deal with the tenant. The asking rent for the space is $25 per square foot, NNN.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Address: 2401 US-22, Union, NJ
- Market: Union, NJ
- Landlord: United Leasehold, LLC
- Tenant: Barnes & Noble Booksellers LLC
The tenant's representative, Marc Palestina, and Chuck Lanyard from The Goldstein Group, assisted Barnes & Noble Booksellers LLC in the leasing process. According to Marc Palestina, strategically relocating the Barnes & Noble store from the Springfield market to Union Plaza was a priority. The tenant is confident in the success of the move and believes that Barnes & Noble will be a valuable addition to the bustling shopping center.
Players
Union Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
634520.00%
Cash-on-Cash
-181347.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93