Updated Dec 4, 2024
Ethan Allen Leases 4700 SF Retail Space At Tice’s Corner Marketplace In Woodcliff Lake
441 Chestnut Ridge Road
Building Size
4,700 SF
Asset Type
Retail
Closing
Oct 2, 2024
About this deal
AI
The asset involved in this transaction is a retail property located at 441 Chestnut Ridge Road, Woodcliff Lake, New Jersey, spanning an area of 4,700 square feet. It is part of Tice’s Corner Marketplace, which hosts over two dozen retailers within an upscale shopping center environment.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 441 Chestnut Ridge Road
- Market: Woodcliff Lake
- Tenant: Ethan Allen
- Landlord's Representative: Sharon Maddern - David Adam Realty
- Tenant's Representatives: CJ Hunter & Lew Finkelstein - The Goldstein Group
In this transaction, Ethan Allen has signed a lease to occupy the space, expanding its presence to more than 170 stores across the nation. The location was selected for its potential to cater to an expanding customer base, which supports the strategic growth plans of the tenant.
Players
Woodcliff Lake 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