Updated Oct 29, 2024
Redd’s Biergarten Restaurant Leases Retail Space In New Brunswick For 7372 Sq Ft
5 Easton Ave, New Brunswick, NJ, 089...
Building Size
7,372 SF
Asset Type
Retail
Closing
Oct 3, 2019
About this deal
AI
The retail lease at 5 Easton Ave, New Brunswick, NJ, spanning 7,372 square feet, was successfully negotiated for Redd’s Biergarten Restaurant. Situated in New Brunswick's market, the restaurant specializes in German cuisine and beer, offering a casual atmosphere with long communal tables and an outdoor biergarten.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not Applicable
- Tenant: Redd’s Biergarten Restaurant
- Address: 5 Easton Ave, New Brunswick, NJ
- Market: New Brunswick
- Tenant's Rep: Lew Finkelstein (The Goldstein Group)
- Landlord: Parking Authority City of New Brunswick
- Square Feet: 7372
Lew Finkelstein and C.J. Huter of The Goldstein Group represented Redd’s in the lease negotiations, showcasing expertise in securing the ideal space for their client. On the other side, Greg Medvin of Pierson Commercial Real Estate acted on behalf of the landlord, the Parking Authority City of New Brunswick, facilitating a successful conclusion to the lease agreement.
Players
New Brunswick 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