Shoppes At Cross Keyes In New Jersey Acquires Retail Property For $22.3M
611 Berlin Cross Keys Rd, Sicklerville, Nj 08081, Usa
$22,300,000
$111/SF
Building Size
200,000 SF
Asset Type
Retail
Closing
Jun 25, 2019
About this deal
AI
The Shoppes at Cross Keyes is a retail property located at 611 Cross Keyes Rd. This property was involved in a closed transaction on June 26, 2019. The property spans across 200,000 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $22,300,000
- Loan Amount: $22,300,000
- Lender: Valley National Bank
- Landlord: Joseph I. Jemal – The Jemstone Group
- Broker: Abe Mann @progress.capital
- Notes: 75% LTC
The deal was facilitated by Abe Mann from Progress Capital. Abe Mann represented the buyer or seller in this transaction.
Players
Sicklerville Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93