Levin Management Signs 10-Year Lease With Strand Salon Suites At Somerset County Shopping Center In Bridgewater, NJ
Somerset County Shopping Center
$25
$25/SF
Building Size
12,124 SF
Asset Type
Retail
Closing
Apr 19, 2023
AI
Strand Salon Suites has recently signed a 10-year lease agreement for a retail space located at 395 US-202 in the Somerset County Shopping Center, Bridgewater, NJ. The property, owned by Levin Management, offers a total square footage of 12,124. The asking rent for the lease was set at $25 per square foot. The deal was finalized on April 19, 2023, with Shane Wierks from Jeffery Realty representing the tenant, Strand Salon Suites.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: N/A
- Square Footage: 12,124
- Address: 395 US-202, Somerset County Shopping Center, Bridgewater, NJ
- Market: Bridgewater, NJ
The lease agreement between Strand Salon Suites and Levin Management marks an important milestone for both parties. This long-term lease provides Strand Salon Suites with a prime retail location in the Somerset County Shopping Center, allowing them to expand their business and serve the local community. Shane Wierks from Jeffery Realty played a crucial role in representing Strand Salon Suites, ensuring favorable lease terms and facilitating a successful transaction.
Players
Raritan 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
634520.00%
Cash-on-Cash
-181347.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93