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Route 4 East Paramus, NJ 0...

Urban Edge Properties Leases Retail Space To Bath & Body Works Crumbl Cookies First Watch Tacoria In Paramus
LEASEDRetail

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:

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

Amy Staats

Katz & Associates

Broker

4 deals

Broker

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