Apple Cinemas Leases 82000 Square Feet At Riverview Plaza III In Philadelphia With Richard Soloff's Representation
1100 South Christopher Columbus Boulevard
Building Size
82,000 SF
Asset Type
Retail
Closing
Nov 15, 2024
AI
The asset involved in this transaction is a retail property located at 1100 South Christopher Columbus Boulevard, Philadelphia, PA, encompassing an area of 82,000 square feet. This location is part of Riverview Plaza III, owned by Tower Investments.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 1100 South Christopher Columbus Boulevard
- Market: Philadelphia, PA
- Landlord: Bart Blatstein - Tower Investments
- Tenant: Apple Cinemas
- Broker: Richard Soloff - Soloff Realty & Development
The deal saw Apple Cinemas taking a significant step in expanding its presence across six states by signing the lease for this new location. The leasing process was managed by Richard Soloff, who represents Soloff Realty & Development.
Philadelphia Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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