Prime Equity Acquires Fireside Plaza Retail Asset In Pompton Plains From March Centers LLC
679 New Jersey Highway 23
Building Size
30,000 SF
Asset Type
Retail
Closing
Jan 10, 2025
AI
The property involved in this transaction is a retail asset located at 679-717 New Jersey Highway 23 in Pompton Plains. It encompasses a total square footage of 30,000 and is situated within a market notable for its presence of major retailers and restaurants.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 679-717 New Jersey Highway 23
- Market: Pompton Plains
- Asset Size: 30,000 SF
- Buyer: Prime Equity
- Seller: March Centers LLC
- Broker Representatives: CJ Huter, Lew Finkelstein & Marc Palestina - The Goldstein Group
This transaction was facilitated by The Goldstein Group, who represented the sale of Fireside Plaza to Prime Equity. Following the acquisition, the new owner plans to subdivide the property and is currently engaged in negotiations for leasing the available space.
Players
Pompton Plains 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