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90 Saddle Way Crosswicks, N...

Renaissance Properties Leases 2,350 SF Retail Space To RPM Dance Company At 90 Saddle Way
LEASEDRetail

Renaissance Properties Leases 2,350 SF Retail Space To RPM Dance Company At 90 Saddle Way

90 Saddle Way Crosswicks, New Jersey 08515, USA

Building Size

2,350 SF

Asset Type

Retail

Closing

Aug 18, 2023

AI

The Shops at Old York Village in Chesterfield has recently welcomed a new tenant, RPM Dance Company. Led by owner Rachel Mancino, RPM Dance Company offers a variety of dance classes for all ages. With a focus on fostering growth and artistic expression, the studio provides a welcoming environment for dancers of diverse styles.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Square Footage: 2,350 SF
  • Address: 90 Saddle Way, Unit 200, Chesterfield
  • Market: Chesterfield
  • Landlord: Renaissance Properties - Robert Adinolfi
  • Tenant: RPM Dance Company - Rachel Mancino

Rachel Mancino is the owner and lead instructor at RPM Dance Company. She brings her passion for dance to the studio and aims to create a welcoming and inclusive atmosphere for students of all ages. The addition of RPM Dance Company to the Shops at Old York Village enhances the variety of offerings available at the retail center, providing a new opportunity for residents of Chesterfield and beyond to explore their love for dance.

Players

RN
Renaissance Properties NYLandlord

Chesterfield 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