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122 W Oak AveLawnside, NJ 08045
Lowe's | Lawnside, NJ
Asset ClassRetail
Lowe's (S&P Rated BBB+) NNN Ground Lease Offered in Affluent Dense Southern New Jersey within Philadelphia MSA Offered at $10,560,000
overview of deal

Overview

Marcus & Millichap and Paramount Realty Services exclusively offers for sale a Lowe’s Home Improvement Store, subject to a long-term NNN ground lease, located in Lawnside, New Jersey. Offered at a purchase price of $10,560,000 or a 5.50% cap rate, Lowe's has a highly attractive below-market rent rate under $5.00 per square foot, which is significantly lower than comparable retail or industrial box space in Southern New Jersey, providing for a major mark-to-market in the future.

 

Lowe's (S&P BBB+ rated) has renewed through multiple contractual options given its superior location and placement within the Southern New Jersey corridor. Located in dense Camden County, the property is optimally positioned off the I-295 on/off ramp among other destination retailers including Shoprite, Petsmart, and Home Depot.

Investment Highlights

Land
15.5 Acres
Year Built
2001
Retail SF
134,967
  • NNN GROUND LEASE WITH RARE 10% INCREASES IN OPTIONS

 

  • RENTAL RATE OVER 50% LESS OF MARKET RATES

 

  • SUB $5 PSF RENT MITIGATES SHORTER TERM LEASE RISK

 

  • TWO PREVIOUS CONTRACT RENEWALS WITH 20% AND 10% RENTAL INCREASES

 

  • INFILL PHILADELPHIA MSA MARKET WITH 292,070 RESIDENTS WITHIN 5-MILES POSTIONED IMMEDIATELY OFF I-295 IN SOUTHERN NEW JERSEY

 

  • INVESTMENT GRADE RETAILER RATED BBB+ / BAA2
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122 W Oak AveLawnside, NJ 08045

Exclusively Listed By

Jim McGuckinBroker of Record - New Jersey

License #: 2082114

201-742-6100jim.mcguckin@marcusmillichap.com
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