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97 Franklin Turnpike, Mahwa...

Ranna Management Leases Retail Space In Mahwah's Franklin Turnpike With Landlord Chris Conway - CLF Property Trust LLC
LEASEDRetail

Ranna Management Leases Retail Space In Mahwah's Franklin Turnpike With Landlord Chris Conway - CLF Property Trust LLC

97 Franklin Turnpike, Mahwah, New Jersey 07430, United States

Building Size

38,000 SF

Asset Type

Retail

Closing

May 22, 2022

AI

A retail property located at 97-99 Franklin Turnpike in Mahwah has been leased to Ranna Management. The property spans 6 acres and features approximately 38,000 square feet of space. The lease was assumed by the purchaser of the business, who also exercised an option period.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 97-99 Franklin Turnpike, Mahwah
  • Market: Mahwah
  • Landlord: Chris Conway - CLF Property Trust LLC
  • Tenant: Ranna Management
  • Asking Rent: $12.76/ft.
  • Square Footage: 38,000
  • Date: 05/23/2022

This lease transaction was facilitated by Chris Conway of CLF Property Trust LLC as the landlord's representative.

Players

Chris Conway

Landlord

$1M

vol

3 deals

Landlord

Mahwah 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