LEASEDRetail
Tommy's Tavern & Tap Leases 9,160 SF Restaurant At Ledgewood Commons With Urban Edge Properties As Landlord
Building Size
9,160 SF
Asset Type
Retail
Closing
May 14, 2025
AI
A lease transaction for a retail space has been finalized, involving a 9,160 SF restaurant located at Route 46 & Route 10 in the Ledgewood market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: Route 46 & Route 10
- Market: Ledgewood
- Landlord: Jeffrey S. Olson & Ronnie Bertrand - Urban Edge Properties
- Tenant: Tommy’s Tavern & Tap
- Landlord's Representative: Mike Testa - Jeffery Realty
- Tenant's Representative: Tyler Bennett - Bennett Realty & Development
This deal marks Urban Edge’s first transaction since acquiring the center, highlighting the engagement of both tenant and landlord representatives to facilitate the lease agreement effectively.
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