Premier Retail Equities Acquires Retail Property In Bridgewater, NJ For $8.2M
1329 Prince Rodgers Avenue
$8,200,000
$197/SF
Building Size
41,589 SF
Asset Type
Retail
Closing
Feb 14, 2024
AI
The retail property located at 1329 Prince Rodgers Avenue in Bridgewater, NJ, was recently sold for $8,200,000. The asset spans 41,606 square feet, resulting in a price per square foot of $197.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,200,000
- Buyer: Danny Betesh, Joseph Betesh & Eli Dweck - Premier Retail Equities
- Seller: Not Specified
- Broker: Darren Lizzack - NAI James E. Hanson
- Market: Bridgewater, NJ
Danny Betesh, Joseph Betesh, and Eli Dweck, representing Premier Retail Equities, acquired the shopping center as part of their strategy to invest in value-add shopping centers nationwide. Their broker, Darren Lizzack of NAI James E. Hanson, facilitated the transaction.
Bridgewater Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.93%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93