Updated Oct 29, 2024
Philips Edison Leases Retail Space In Pompton Plains NJ To Popeyes LLC For 10 Years
500 NJ-23, Pompton Plains, NJ 07444, USA
Building Size
2,510 SF
Asset Type
Retail
Closing
Mar 9, 2021
About this deal
AI
The retail property located at 500 Route 23 N in Pompton Plains, NJ, has recently been leased. The tenant, Popeyes LLC, will occupy a space measuring 2,510 square feet. The lease agreement includes a 10-year term with the option for six additional five-year renewals.
Summary of transaction details
- Property Type: Retail
- Tenant: Popeyes LLC/Popeyes Chicken @PopeyesLouisianakKitchen
- Landlord: Philips Edison @Philips.Edison
- Broker: Chris Conway @Retail_Cre
- Address: 500 Route 23 N, Pompton Plains, NJ
- Market: Pompton Plains, NJ
- Square Footage: 2,510
Chris Conway, representing Philips Edison, facilitated the lease transaction for this retail property in Pompton Plains, NJ.
On the Map
Retail
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Players
Pompton Plains 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