Excel Physical Therapy Leases Retail Space At 400 Springfield Ave, Berkeley Heights
400 Springfield Ave, Berkeley Heights...
Building Size
4,700 SF
Asset Type
Retail
Closing
Nov 20, 2023
AI
The property at 400 Springfield Ave in Berkeley Heights, a retail asset with 4,700 square feet, was leased to Excel Physical Therapy. The landlord, Berkeley Development Co. L.P., and tenant's representative, Mary Premtaj from Sotheby's International Realty, were involved in the transaction in Cranford.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Tenant: Excel Physical Therapy
- Square Feet: 4700
- Address: 400 Springfield Ave, Berkeley Heights
- Market: Cranford
- Landlord: Berkeley Development Co. L.P
- Tenant's Rep: Mary Premtaj(Sotheby's International Realty)
- Landlord's Rep: Richard J. Curran, III(The Goldstein Group)
In the noted transaction, Excel Physical Therapy leased 4,700 square feet at the Berkeley Heights Shopping Center. The landlord's representatives, Richard Curran III and Christopher Conway of The Goldstein Group, facilitated the deal. The tenant's representative, Mary Premtaj, represented Excel Physical Therapy's interests during the lease agreement.
Players
Cranford 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