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KBG Korean BBQ & Grill Leases Retail Space At Hahne & Co In Newark

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LEASED

New Jersey

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Retail1,932 SF
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LEASED

KBG Korean BBQ & Grill Leases Retail Space At Hahne & Co In Newark

609 Broad St, Newark, NJ, 07102

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Retail1,932 SF
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Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$0
Total Square Footage:1932 SF
Transaction Type:Lease

The retail property located at 609 Broad St, Newark, NJ, 07102 has been fully leased to KBG Korean BBQ & Grill, spanning 1,932 square feet. The historic property is part of the revitalized Hahne & Co. building in downtown Newark, housing various restaurants, retailers, office spaces, and 160 apartments. The landlord's representative, Ryan Starkman of Pierson Commercial, facilitated the transaction. KBG Korean BBQ & Grill will be situated at the corner of Halsey and New streets within the complex.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not provided
  • Market: Newark
  • Tenant: KBG Korean BBQ & Grill
  • Landlord: Goldman Sachs Urban Investment Group
  • Square Feet: 1932

The ownership team of L+M Development Partners, Prudential Financial, and Goldman Sachs Urban Investment Group expressed their excitement in welcoming KBG as the final addition to Hahne & Co. The building has been transformed into a vibrant hub, with KBG Korean BBQ & Grill complementing the culinary offerings in the area, alongside Ani Ramen and other eateries. Joel Park, the owner of KBG Korean BBQ & Grill, shared his enthusiasm for the new location, emphasizing the opportunity to bring authentic Korean BBQ dishes to the Downtown Newark community.

Players

Ryan Starkman
7 deals(732) 724-4501
BROKER

Goldman Sachs
LANDLORD

Details

LEASED
IMAGE: 609 Broad St, Newark, NJ, 07102 MARKET: Newark ASSET TYPE: Retail LANDLORD'S REP: Ryan Starkman(Pierson Commercial) TENANT: KBG Korean BBQ & Grill LANDLORD: Goldman Sachs Urban Investment Group SQUARE FEET: 1932

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Deal Type
Effective Rent (Annual)

$110,741.07

Total Lease Value

$1,107,410.74

Net Landlord Cash Flow$110,741.07