Iron Revolution Leases 28,045 Square Feet At Town Brook Commons In Middletown New Jersey
754 New Jersey Highway 35
Building Size
28,045 SF
Asset Type
Retail
Closing
Jun 23, 2026
AI
The property asset involved in this transaction is a retail space located at 754 New Jersey Highway 35, Middletown, NJ, with a total square footage of 28,045. The lease was signed by Iron Revolution, which is taking over a former Big Lots space in the Town Brook Commons retail center, expanding its presence as its second location. This addition is part of Urban Edge Properties' strategy to utilize vacant big-box spaces effectively.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Address: 754 New Jersey Highway 35, Middletown, NJ
- Square Footage: 28,045
- Landlord: Jeffrey S. Olson - Urban Edge Properties
- Tenant: Raymond Fennell - Iron Revolution
- Landlord's Representative: Mike Testa - Catalyst Real Estate Partners
- Tenant's Representative: Bernard Gutherz - Century 21 Action Plus Realty
This lease transaction adds a high-traffic fitness anchor to the retail center, complementing existing brands such as Orangetheory and Power Core Studio. The involvement of representatives from both Urban Edge Properties and Iron Revolution indicates a collaborative effort to enhance the retail experience in the area.
Players
Middletown 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