Delta's Newark Leases 8,500 SF Retail Space At 810 Broad Street In Newark, NJ
810 Broad Street
$24
$24/SF
Building Size
8,500 SF
Asset Type
Retail
Closing
Feb 1, 2023
AI
The retail property located at 810 Broad Street in Newark, NJ has been leased. The landlord, Broad Street Ventures Urban Renewal, has entered into a lease agreement with the tenant, DELTA'S NEWARK. The lease term is for 10 years.
Summary of transaction details
- Property Type: Retail
- Asking Rent: $24/ft
- Size: 8,500 sq ft
- Address: 810 Broad Street, Newark, NJ
- Market: Newark, NJ
The lease was facilitated by the brokers Christian Benedetto Jr., Jason Crimmins (SIOR, CCIM), Alessandro Conte (SIOR, CCIM), Michael Schipper (SIOR), and Peter Murano (SIOR) from The Blau & Berg Company. They represented both the landlord and the tenant in the deal.
Players
Market 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
660958.33%
Cash-on-Cash
-188903.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93