The Jemstone Group Leases 6,500 SF Retail Space To Fine Fare Supermarket In Bronx

The property asset involved in this transaction is a retail space located at 7 West Burnside Avenue in the Bronx. The asking rent for this space is $55 per square foot, encompassing a total area of 6,500 square feet. The lease agreement established is a modified gross lease spanning a term of 15 years. The landlord for this property is The Jemstone Group, and the tenant that will occupy this space is Fine Fare Supermarket.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $55/ft
• Lease Term: 15 Years
• Lease Type: Modified Gross Lease
• Landlord: The Jemstone Group
• Tenant: Fine Fare Supermarket
• Brokers: Moshe Akiva & Albert Alkhabbaz - Momentum Realty Group

The notable brokers representing the transaction are Moshe Akiva and Albert Alkhabbaz from Momentum Realty Group, who facilitated the lease between The Jemstone Group and Fine Fare Supermarket for the retail space. Their involvement highlights their role in navigating the terms of this long-term agreement.