Target Leases 89781 Square Feet At Gateway Plaza In Port Chester Represented By Jeffrey Howard And Jessica Curtis
Gateway Plaza, Port Chester, NY, 10573
Building Size
89,781 SF
Asset Type
Retail
Closing
Nov 20, 2023
AI
The property involved in this transaction is located at Gateway Plaza, Port Chester, NY, 10573. It features a two-story retail space at an open-air retail center that spans 494,000 square feet. The Tenant, Target, has leased 89,781 square feet within this location. The market for this property is Port Chester, NY.
Summary of transaction details:
- Property Type: Retail Lease
- Transaction Amount: Not Disclosed
- Square Feet: 89,781
- Address: Gateway Plaza, Port Chester, NY, 10573
- Market: Port Chester
- Tenant: Target
- Landlord: metlife-investment-management'>MetLife Investment Management
- Tenant's Representative: Jeffrey Howard
- Landlord's Representative: Jessica Curtis - CBRE
In this deal, Jessica Curtis represented the landlord, which is a partnership between M&J Wilkow and metlife-investment-management'>MetLife Investment Management, while Jeffrey Howard represented the tenant, Target. The center also houses other tenants such as HomeGoods, Ulta Beauty, and Old Navy. An opening date for Target has not yet been determined.
Port Chester 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