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450 Route 17 North

Boot Barn Leases 20,000 SF Retail Space In Paramus With Boot Barn As Tenant
LEASEDRetail

Boot Barn Leases 20,000 SF Retail Space In Paramus With Boot Barn As Tenant

450 Route 17 North

Building Size

20,000 SF

Asset Type

Retail

Closing

Jun 3, 2024

AI

The property at 450 Route 17 North in Paramus, a 20,000 square foot retail space, was leased by Boot Barn, a prominent western apparel chain. This location marks Boot Barn's first store in Bergen County, taking over the space previously occupied by Paramus Roller Skating Arena Inc.

Summary of transation details:

Welco Realty's Jerry Welkis and Marcus & Millichap's Michael Horner represented the parties involved in the lease transaction at 450 Route 17 North. The deal brought together two experienced brokers to facilitate Boot Barn's entry into Bergen County, securing a strategic retail space for the growing western apparel chain.

Players

Jerry Welkis

Welco Realty

Broker

8 deals

Broker

Mahwah 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