Jay Diederich Leases 26500 Square Foot Space At Brunswick Shopping Center In North Brunswick
Building Size
26,500 SF
Asset Type
Retail
Closing
Jan 8, 2025
AI
The asset involved in this lease transaction is a retail space located at 498 Milltown Road in North Brunswick. The facility encompasses 26,500 square feet and is situated within the Brunswick Shopping Center. This shopping center has a total property size of 288,000 square feet and includes other tenants such as LA Fitness and Lidl.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 498 Milltown Road
- Market: North Brunswick
- Asset Size: 26,500 SF
- Tenant: Jay Diederich - Ace Pickleball Club
- Landlord's Representative: Fred Younkin - LEVIN Management
- Tenant's Representative: Marta Villa - CBRE
This lease marks the opening of the Ace Pickleball Club, which will provide premium courts, a pro shop, and corporate event hosting capabilities. The lease is facilitated by Levin ManagementCorporation, which oversees the operations of the shopping center.
Market 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