Overview
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of Chick-fil-A located in Vineland, New Jersey. This 4,650 SF asset sits at the signalized entrance to the Cumberland Mall (over 1M visits in the last 12 months) and has been 100% occupied by Chick-fil-A since 2012. The subject property benefits from unmatched signage and visibility along Rt 47 (S Delsea Drive), a major regional retail market servicing a rapidly growing and affluent South Jersey submarket.
Chick-fil-A executed a long-term 20-year ground lease in 2012 which includes 10% rent escalations throughout the initial term and at the beginning of each option period. Chick-fil-A currently pays $108,900 which bumps in April 2027 to $119,790. Chick-fil-A is currently adding a second drivethru service window demonstrating immense commitment to this location.
Investment Highlights
HIGH PERFORMING LOCATION (TOP 10 IN NJ)
The property saw 725k+ visits in the last 12 months, ranking in the top 83% of Chick-fil-A's within the state of New Jersey (placer.ai)
CORPORATE GUARANTEE
Ownership benefits from a corporately guaranteed ground lease. Chick-fil-A is one of the most sought-after QSR chains in the country, with more than 3,000 units across the United States, with 2022 revenue in excess of 7.88B
ATTRACTIVE LEASE FUNDAMENTALS
Chick-fil-A's 20-year lease features 10% rent increases every 5 years including at the beginning of each option period, providing an attractive increase in revenue and hedge against inflation for any investor. In addition, this NNN Ground lease requires zero landlord responsibilities leaving ownership with a completely hands-off passive investment.
ADDITION OF SECOND DRIVE-THRU
Chick-fil-A has been approved to add an additional drive-thru to the subject property demonstrating not only locational commitment but highlighting strong store performance.
LOCATED IN HIGH TRAFFIC RETAIL CORRIDOR
Outparcel to the 941,148 SF Cumberland Mall, which features tenants such as Boscov's, Dicks Sporting Goods, BJ's, Home Depot, Regal Cinemas, Best Buy, HomeGoods, Marshalls, Michael's, Petco, Red Lobster, Starbucks, Applebees, Red Robbin, and more. Additional national tenants along Route 47 within close proximity include ALDI, Walmart, Target, Kohl's, Lowe's, Big Lots, Wawa, Chipotle, and more.
EXCELLENT VISIBILITY AND REGIONAL ACCESS
The subject property features excellent signage and visibility at the signalized entrance to Cumberland Mall from S. Delsea Drive/Route 47 (26,219 VPD) and is directly accessible via an exit to the mall from Route 55 (31,668 VPD). The Property is strategically located just hundreds of feet from the I-47/I-55 interchange and is immediately adjacent to stops on the NJ Transit 313 and 553 bus transportation routes.
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