Lidl Signs Lease For New Store At Urban Edge Properties' Totowa Commons Complex On Route 46 In Passaic County
545 US Route 46
Building Size
27,270 SF
Asset Type
Retail
Closing
Feb 6, 2024
AI
The Totowa Commons complex on Route 46 in Passaic County will soon be home to a new Lidl store. The popular value grocer will join major retailers like The Home Depot and Staples in this prime location. With convenient access to multiple highways, the new store is expected to enhance traffic to the center and serve residents of Totowa, Little Falls, Woodland Park, Fairfield, and West Caldwell.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not mentioned in context
- Square Footage: 27,270 SF
- Address: 545 US Route 46, Totowa
- Market: Totowa
- Landlord: Urban Edge Properties
- Tenant: Joel Rampoldt - Lidl
- Landlord's Rep: Leigh Lyons - Urban Edge Properties
- Tenant's Rep: Mike Testa & William Farkas - Jeffery Realty Inc
No additional information about the transaction was provided in the context.
Players
Totowa Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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