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Shoppes at Godwin

  • Accordia Realty
  • Icn offering location Midland Park, NJ

Equity investment in the redevelopment of a mixed use center on a main thoroughfare

Icn offering map
  • Icn funding type
  • Icn funding meta
  • Posting
  • Equity
  • Total Raise: $1,200,000
  • Min. Investment: $5,000
  • Expected Hold Period: 5 years
  • Property Type: Retail
  • Est. Investor IRR: 24.3-29.1%
  • Est. Cash-on-Cash: 9.0-12.6%
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The property was originally developed in the 1960s and will be redeveloped into a Class A shopping center complete with new facades, storefronts, mechanicals and tenancies.
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The center is already 65% leased (limiting downside risk) and showing great leasing activity, with rental rates for new tenants now 200% higher than in-place, going from $10 per square foot to over $30.
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The property is located in one of the most affluent sections of Bergen County, NJ on a main thoroughfare. The demographics are extremely attractive and good retail space is in high demand.