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Adoni Property Group Achieves Full Occupancy With Denville Retail Lease Deal

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LEASED

New Jersey

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Retail
Leased 05/15/2024
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LEASED

Adoni Property Group Achieves Full Occupancy With Denville Retail Lease Deal

3130 New Jersey Highway 10

See Similar Deals
Retail
Leased 05/15/2024
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Summary

NEW JERSEY
Asset Type:Retail
Transaction Type:Lease

The property involved in the transaction is Denville Commons, a 73,239-square-foot retail complex located at 3130 New Jersey Highway 10 in Denville. The asset, owned by Sonny Adoni of Adoni Property Group, is situated in the market of Denville, showcasing a commitment to a diverse tenant mix with the recent addition of new tenants including Phenix Salon Suites, American Family Care, Health Mate Hot Tubs, and Tropical Smoothie Café.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Landlord: Sonny Adoni - Adoni Property Group
  • Tenants: Phenix Salon Suites, American Family Care, Health Mate Hot Tubs, & Tropical Smoothie Café
  • Brokers: Alana Friedman & David Townes - JLL

The deal at Denville Commons, facilitated by brokers Alana Friedman and David Townes from JLL, brought the shopping center to full occupancy by securing the mentioned four new tenants. This successful endeavor highlights the collaborative effort between the landlords and the tenants, further enhancing the shopping experience for the local community.

Players

David Townes
15 deals$7.1M volume(973) 829-4800
BROKER

Alana Friedman
JLL
12 deals$7.1M volume(201) 741-0990
BROKER

Details

LEASED
IMAGE: 05/16/2024 ADDRESS: 3130 New Jersey Highway 10 MARKET: Denville ASSET TYPE: Retail LANDLORD: Sonny Adoni - Adoni Property Group TENANT: Phenix Salon Suites, American Family Care, Health Mate Hot Tubs, & Tropical Smoothie Café BROKERS: Alana Friedman & David Townes - JLL NOTE: Denville Commons, a neighborhood shopping center in Denville, achieved 100% occupancy after securing four new tenants with the help of JLL. The 73,239-square-foot retail complex, owned by Adoni Property Group, now includes tenants such as Phenix Salon Suites, American Family Care, Health Mate Hot Tubs, and Tropical Smoothie Café, demonstrating a commitment to a diverse tenant mix and enhancing the shopping experience for the community.

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Deal Type
Effective Rent (Annual)

$573,193.97

Total Lease Value

$5,731,939.66

Net Landlord Cash Flow$573,193.97