facebook

traded

+ Submit
Home

/

Deals

/

New Jersey

/

Retail

/

Lease

/

727 Broad Street

Phenix Salon Suites Leases 12,657 Square Feet At 727 Broad Street Newark With JLL Representation
LEASEDRetail

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

Marta Villa

CBRE

Broker

$10.1M

vol

15 deals

Broker

Newark 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