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Bergen Town Center Drive

World Market Leases 19,265 SF Retail Space At Bergen Town Center In Paramus
LEASEDRetail

World Market Leases 19,265 SF Retail Space At Bergen Town Center In Paramus

Bergen Town Center Drive

Building Size

19,265 SF

Asset Type

Retail

Closing

Jan 23, 2024

AI

World Market has leased over 19,265 square feet at Bergen Town Center in Paramus, making it their first location in Bergen County. The deal was facilitated by CBRE and Urban Edge Properties. This addition to the shopping destination brings more variety to customers, alongside popular stores such as HomeGoods and Marshalls.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not mentioned in the CONTEXT
  • Location: Bergen Town Center Drive, Paramus
  • Market: Paramus
  • Size: 19,265 square feet
  • Landlord: Urban Edge Properties
  • Tenant: Barry Feld - World Market
  • Tenant's Representative: Jeffrey Cohen - CBRE
  • Broker: Leigh Lyons - Urban Edge Properties

The lease agreement at Bergen Town Center in Paramus marks World Market's first foray into Bergen County. CBRE and Urban Edge Properties played integral roles in securing the deal, expanding the retail offerings at the shopping destination.

Players

Jeffrey Cohen

CBRE

Broker

1 deal

Broker
Urban Edge Properties
Urban Edge PropertiesLandlord
World Market
World MarketTenant

Paramus 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