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137 179 Van Zile Road

TFE Properties Acquires The Shops At Brick Retail Center Represented By JLL Brokers
SOLDRetail

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

Kevin O’Hearn

JLL

Broker

$2.3B

vol

52 deals

Broker
Carey Tajfel

Carey Tajfel

Buyer

$65.2M

vol

6 deals

Buyer

Brick 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93