Richard Dickson Of Gap Inc Opens Retail Lease At 10-2020 Jericho Turnpike In Commack
10 2020 Jericho Turnpike
Building Size
12,800 SF
Asset Type
Retail
Closing
May 30, 2025
AI
The property asset involved in this transaction is a retail space located at 10-2020 Jericho Turnpike, Commack. The total square footage of the asset is 12,800, which is designated for Gap Factory's new store opening. Gap Factory is established in a significant retail location within the Mayfair Shopping Center, following a previous closure of their location in 2019.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Square Footage: 12,800
- Address: 10-2020 Jericho Turnpike
- Market: Commack
- Tenant: Richard Dickson - Gap Inc
- Landlord's Rep: E.J. Moawad - LEVIN Management
- Tenant's Rep: Michael Friedman - Inline Realty
This transaction features notable individuals and companies, including Richard Dickson, who represents Gap Inc as the tenant. The landlord's representative for this deal is E.J. Moawad from LEVIN Management, and the tenant is represented by Michael Friedman of Inline Realty. This collaboration brings Gap Factory back to the community with a prominent retail presence.
Players
Commack Retail Market Snapshot
Boundary boundary · Retail · Lease 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