facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New Jersey

/

Retail

/

Lease

/

400 Springfield Ave, Berkel...

Excel Physical Therapy Leases Retail Space At 400 Springfield Ave, Berkeley Heights
LEASEDRetail

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:

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

Mary Premtaj

Sotheby's International Realty

Broker

1 deal

Broker
BL
Berkeley Development Co, L.P.Landlord

Cranford 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