Burger King Leases Retail Space In West Caldwell, NJ On Bloomfield Ave
940 Bloomfield Avenue, West Caldwell, NJ, USA
Building Size
3,659 SF
Asset Type
Retail
Closing
Mar 24, 2021
AI
940 Bloomfield Ave in West Caldwell has been leased to Devs Foods LLC, also known as Burger King. The landlord for this retail property is Mundelein Development LLC. The lease deal was facilitated by brokers Chris Conway and Jason Pierson.
Summary of transaction details:
- Property Type: Retail
- Address: 940 Bloomfield Ave, West Caldwell
- Market: West Caldwell
- Tenant: Devs Foods LLC/Burger King
- Landlord: Mundelein Development LLC
- Brokers: Chris Conway & Jason Pierson
- Asking Rent: $130,000/yr
- Size: 3,659 sqft
This lease deal for 940 Bloomfield Ave marks a significant transaction in the West Caldwell retail market. Devs Foods, operating as Burger King, will now be occupying this space. Mundelein Development LLC is the landlord for this property located in West Caldwell. The brokers involved in this lease deal are Chris Conway and Jason Pierson.
Note: The deal received final approval on 4/15/2021 and is scheduled to open as a repositioned dual drive-thru concept.
Players
West Caldwell 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