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
The lease agreement was facilitated by the following representatives:
- Landlord's Rep: Mike Testa, Bill Farkas, and Shane Wierks from Jeffery Realty
- Tenant's Rep: Chuck Lanyard and Marc Palestina from The Goldstein Group
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
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