Updated Dec 4, 2024
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
About this deal
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