Urban Edge Properties Leases Retail Space To Bath & Body Works Crumbl Cookies First Watch Tacoria In Paramus
Building Size
—
Asset Type
Retail
Closing
Nov 14, 2024
AI
The retail asset involved in this transaction is located at Route 4 East & Forest Avenue in Paramus, NJ. The leases include prominent brands such as Bath & Body Works, which occupies 4,157 square feet, Crumbl Cookies with 2,138 square feet, First Watch covering 4,790 square feet, and Tacoria at 1,654 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Market: Paramus
- Landlord: Urban Edge Properties
- Tenants: Bath & Body Works, Crumbl Cookies, First Watch, Tacoria
- Landlord's Representative: Alexandra Yanoff, Emily Green, Taryn Brandes - Brand Urban
- Tenant's Representative: Amy Staats - Katz & Associates; Joe Brendel - Newmark; Paul Schiffer - Urban Edge Properties; William Cafero - Charter Realty
Four new tenants have signed leases at Bergen Town Center, with Taryn Brandes, Emily Green, and Alexandra Yanoff representing the landlord for Crumbl Cookies, First Watch, and Tacoria. Paul Schiffer is noted for Bath & Body Works, while Amy Staats is associated with First Watch. William Cafero represents Crumbl Cookies, and Joe Brendel is associated with Tacoria.
Players
Market 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