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395 US-202 - Somerset Count...

Levin Management Leases Retail Space At Somerset County Shopping Center To Strand Salon Suites
LEASEDRetail

Levin Management Leases Retail Space At Somerset County Shopping Center To Strand Salon Suites

395 US-202 - Somerset County Shopping Center

$25

$25/SF

Building Size

12,124 SF

Asset Type

Retail

Closing

Apr 19, 2023

AI

The Somerset County Shopping Center in Bridgewater, NJ has recently leased a retail space. The property, consisting of 12,124 square feet, is located at 395 US-202. This lease transaction was facilitated by Levin Management as the landlord and the tenant is Strand Salon Suites. The lease term for this retail space is a 10-year lease.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 395 US-202, Somerset County Shopping Center, Bridgewater, NJ
  • Market: Bridgewater, NJ
  • Tenant: Strand Salon Suites
  • Tenant's Representative: Shane Wierks - Jeffery Realty
  • Asking Rent: $25 per square foot
  • Lease Term: 10 years

The tenant, Strand Salon Suites, is represented by Shane Wierks from Jeffery Realty. This lease transaction was made possible through the collaboration of Levin Management, the landlord, and Strand Salon Suites, the tenant. The retail space, located within the Somerset County Shopping Center, offers a prime location in Bridgewater, NJ.

Players

Shane Wierks

Jeffery Realty

Broker

$16.4M

vol

8 deals

Broker
LM
Levin ManagementLandlord
SS
Strand Salon SuitesTenant

New York 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

634520.00%

Cash-on-Cash

-181347.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93