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307 Marlton Pike

Urban Edge Properties Signs New Leases With Mattress Firm And First Watch At Marlton Commons
LEASEDRetail

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

Brian Goodwin

Metro Commercial

Broker

2 deals

Broker

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