Updated Oct 28, 2024
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
About this deal
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.
On the Map
Retail
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Players
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