Danielle & Timothy Sporcic Lease Aqua-Tots Swim Schools In North Bergen
3131 John F Kennedy Boulevard
Building Size
9,000 SF
Asset Type
Retail
Closing
Mar 19, 2024
AI
The retail property located at 3131 John F Kennedy Boulevard in North Bergen spans 9,000 square feet. The landlord, Madison International Realty, has leased the space to Aqua-Tots Swim Schools, owned by Danielle and Timothy Sporcic. Aqua-Tots Swim Schools will offer year-round indoor swimming lessons for children aged four months to 12 years at Columbia Park Center. The anticipated opening of the facility is in fall 2024.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Landlord: Madison International Realty
- Tenant: Danielle & Timothy Sporcic - Aqua-Tots Swim Schools
- Landlord's Rep: Todd Cooper, Florian Suserman & Jake Frantzman - Ripco
- Tenant's Rep: Bobby Antonicello Jr - Grid Real Estate
The deal was facilitated by RIPCO Real Estate and GRID Real Estate. Aqua-Tots Swim Schools aims to provide job opportunities and promote water safety through its swimming lessons for children. The owners, Danielle and Timothy Sporcic, are focused on offering a valuable service to the community at their new location in North Bergen.
Players
Union City 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