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.
Bridgewater 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