DXL Big & Tall Signs Lease At Somerville Circle Shopping Center In Raritan For 6170 Square Feet
300 US Route 202
Building Size
6,170 SF
Asset Type
Retail
Closing
Oct 31, 2024
AI
The property involved in this transaction is a retail asset located at 300 US Route 202 in Raritan, NJ, with a total square footage of 6,170. The property is situated within the Somerville Circle Shopping Center, which has reached full occupancy following this lease agreement.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not Disclosed
- Address: 300 US Route 202
- Market: Raritan
- Tenant: DXL Big + Tall
- Landlord's Representative: Vanessa Fernandez-Kelty - LEVIN Management
- Tenant's Representative: Alison Horbach - Ripco
This lease agreement was facilitated by Vanessa Fernandez-Kelty representing the landlord and Alison Horbach representing the tenant. DXL Big + Tall has secured a lease of 6,170 square feet within the center, contributing to the overall complete occupancy of the shopping complex.
Players
Raritan 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