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461 Route 10 East

Barnes & Noble Leases 13,875 SF Retail Space At The Shops At Ledgewood Commons Ledgewood, NJ
LEASEDRetail

Barnes & Noble Leases 13,875 SF Retail Space At The Shops At Ledgewood Commons Ledgewood, NJ

461 Route 10 East

Building Size

13,875 SF

Asset Type

Retail

Closing

Feb 14, 2024

AI

Barnes & Noble has signed a lease to open a 13,875-square-foot bookstore in Ledgewood, NJ. The new store will be located at 461 Route 10, as part of The Shops at Ledgewood Commons, a redevelopment of the former Ledgewood Mall.

Summary of transaction details

  • Property Type: Retail
  • Square Footage: 13,875
  • Address: 461 Route 10, Ledgewood, NJ
  • Market: Ledgewood

The lease agreement was facilitated by the following representatives:

Note: The lease transaction was arranged by Chuck Lanyard and Marc Palestina of The Goldstein Group, representing Barnes & Noble, and Mike Testa, Shane Wierks, and Bill Farkas of Jeffery Realty, representing the landlord.

Players

Marc Palestina

VanRockCRE

Broker

$117.5M

vol

27 deals

Broker

Ledgewood 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