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65 1/2 Center St, Clinton, ...

Taco Bell/VB Prefered QSR Clinton LLC Leases Retail Space At 62 1/2 Center Street In Clinton, NJ
LEASEDRetail

Taco Bell/VB Prefered QSR Clinton LLC Leases Retail Space At 62 1/2 Center Street In Clinton, NJ

65 1/2 Center St, Clinton, NJ 08809, USA

Building Size

21,780 SF

Asset Type

Retail

Closing

Mar 8, 2021

AI

Located at 62 1/2 Center Street in Clinton, NJ, this retail property recently underwent a lease transaction. The property spans approximately 21,780 square feet on half an acre of land. The lease was signed on 03/09/2021 with an asking rent of $90,000 for a ground lease. The tenant, Taco Bell/VB Prefered QSR Clinton LLC, will be leasing the space from the landlord, Ambre Holdings at Clinton LLC. The lease agreement includes a 10-year term with three additional 5-year options.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Date: 03/09/2021
  • Address: 62 1/2 Center Street, Clinton, NJ
  • Market: Clinton, NJ
  • Tenant: Taco Bell/VB Prefered QSR Clinton LLC
  • Landlord: Ambre Holdings at Clinton LLC
  • Brokers: Chris Conway & Mark Handwerker
  • Asking Rent: $90,000 (Ground lease)
  • Acres: 0.5
  • Square Footage: 21,780

The lease transaction was facilitated by Chris Conway and Mark Handwerker, acting as brokers. They played a crucial role in connecting the tenant and landlord, ensuring the success of the deal.

Players

Christopher Conway

Atlantic Coastal Real Estate

Broker

$12.1M

vol

40 deals

Broker
TB
Taco BellTenant

Clinton 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