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395 US Route 202

Vanessa Fernandez-Kelty Of LEVIN Management Leases Retail Space To The Liquor Cave In Bridgewater
LEASEDRetail

Vanessa Fernandez-Kelty Of LEVIN Management Leases Retail Space To The Liquor Cave In Bridgewater

395 US Route 202

Building Size

7,400 SF

Asset Type

Retail

Closing

May 3, 2024

AI

The Liquor Cave has secured a 7,400-square-foot lease at Somerset Shopping Center in Bridgewater, situated at 395 US Route 202. This marks their fifth brick-and-mortar store in the state, adding to the diverse mix of retailers, restaurants, and service providers within the 219,000-square-foot property.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not Provided
  • Address: 395 US Route 202
  • Market: Bridgewater
  • Tenant: The Liquor Cave
  • Broker: Vanessa Fernandez-Kelty - LEVIN Management

LMC Senior Leasing Representative Vanessa Kelty highlighted the center's excellent demographics and accessibility, emphasizing Liquor Cave's appeal to Somerset County shoppers and the ongoing demand for this retail category based on real-time traffic data.

Players

Vanessa Fernandez-Kelty

LEVIN Management

Broker

6 deals

Broker

Bridgewater 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