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Somerset County Shopping Ce...

Levin Management Signs 10-Year Lease With Strand Salon Suites At Somerset County Shopping Center In Bridgewater, NJ
LEASEDRetail

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

Shane Wierks

Jeffery Realty

Broker

$16.4M

vol

8 deals

Broker
LM
Levin ManagementLandlord
SS
Strand Salon SuitesTenant

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