Urban Edge Properties Signs New Leases With Mattress Firm And First Watch At Marlton Commons
307 Marlton Pike
Building Size
7,110 SF
Asset Type
Retail
Closing
Oct 9, 2024
AI
The asset involved in this transaction is a retail property located at 307 Route 70 West in Marlton, encompassing a total square footage of 7,110. The landlords, Urban Edge Properties, have signed new leases for this property.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Landlord: Justin Lustig - Urban Edge Properties
- Tenant: Mattress Firm & First Watch
- Landlord's Representative: Brian Bruzek & Steven Gartner - CBRE
- Tenant's Representative: Brian Goodwin - Metro Commercial; Matthew Mandel - CBRE
- Matress Firm Lease Size: 3,310 square feet
- First Watch Lease Size: 3,800 square feet
This deal features Mattress Firm, represented by Brian Goodwin of Metro Commercial, and First Watch, represented by Matthew Mandel of CBRE, both securing significant retail spaces in Marlton Commons. Urban Edge was represented in the deal by Brian Bruzek and Steven Gartner of CBRE.
Players
Marlton 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