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.
License #: 2082114
201-742-6100jim.mcguckin@marcusmillichap.com