Target Signs Lease For 75500 Square Foot Retail Space At Flemington Marketplace With Vanessa Fernandez-Kelty And Jeffrey Howard
325 US Route 202
Building Size
75,500 SF
Asset Type
Retail
Closing
Nov 25, 2024
AI
The transaction involves a retail property located at 325 US Route 202 in Flemington, New Jersey. This asset encompasses a total of 75,500 square feet and is situated within the Flemington Marketplace.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 325 US Route 202
- Market: Flemington
- Tenant: Target
- Landlord's Representative: Vanessa Fernandez-Kelty - LEVIN Management
- Tenant's Representative: Jeffrey Howard - Ripco Real Estate
Target has signed a lease for the new store, which is set to open in the fall of next year. Levin Management Corp. and Ripco Real Estate facilitated this transaction, representing the landlord and Target, respectively.
Players
Flemington Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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