TFE Properties Acquires The Shops At Brick Retail Center Represented By JLL Brokers
137 179 Van Zile Road
Building Size
103,832 SF
Asset Type
Retail
Closing
Mar 4, 2025
AI
The Shops at Brick is a retail shopping center located at 137-179 Van Zile Road in Brick, NJ. The asset encompasses a total of 103,832 square feet and is situated in a competitive market environment.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Address: 137-179 Van Zile Road
- Market: Brick
- Buyer: Carey Tajfel - TFE Properties
- Brokers: Joseph Lopresti & Kevin O’Hearn - JLL
TFE Properties, represented by Carey Tajfel, has acquired the shopping center with plans for façade upgrades and leasing of vacant spaces. JLL's Joseph Lopresti and Kevin O’Hearn facilitated the transaction by representing both the buyer and seller in the deal.
Players
Brick Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
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