Phenix Salon Suites Leases 12,657 Square Feet At 727 Broad Street Newark With JLL Representation
727 Broad Street & 100 Rosie Square
Building Size
35,646 SF
Asset Type
Retail
Closing
Oct 15, 2024
AI
The retail asset involved in the transaction includes a total square footage of 17,823 located at 727 Broad Street in Newark and 100 Rosie Square in Wood Ridge. It is situated within the Newark and Wood Ridge markets, and comprised of two distinct spaces occupied by Phenix Salon Suites.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 727 Broad Street & 100 Rosie Square
- Market: Newark & Wood Ridge
- Tenant: Phenix Salon Suites
- Landlord's Representative: Marta Villa - CBRE
- Tenant's Representatives: Alana Friedman & David Townes - JLL
- Square Footage: 17,823
JLL has successfully arranged three leases for Phenix Salon Suites in the metro area, including an arrangement for 12,657 square feet at 727 Broad Street in Newark, as well as an additional 5,166 square feet at Avalon at Wesmont Station in Wood-Ridge. In this transaction, Marta Villa from CBRE represented the landlord in Newark while JLL's Alana Friedman and David Townes represented the tenant.
Players
Newark 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