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Route 46 in Ledgewood, NJ

Tommy's Tavern & Tap Leases 9,160 SF Restaurant At Ledgewood Commons With Urban Edge Properties As Landlord
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:

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

Michael Testa

Catalyst Real Estate Partners

Broker

4 deals

Broker

Jeffrey S. Olson

Urban Edge Properties

Landlord

$177.9M

vol

3 deals

Landlord
Urban Edge Properties
Urban Edge PropertiesLandlord

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