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:
- Property Type: Retail
- Transaction Amount: Not specified
- Tenant: Boot Barn
- Address: 450 Route 17 North
- Market: Paramus
- Brokers: Jerry Welkis - Welco Realty & Michael Horner - Marcus & Millichap
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
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