Asking Price Contact for pricing
Sq. Footage N/A
NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Year Built 2018

Property Description

The Northern New Jersey retail market continues to be one of the strongest and most diverse retail markets in the Country. Located just 23 miles from New York City, the highly dense and diverse population of Northern New Jersey, coupled with above average household incomes, makes the market an attractive destination for both established and new retailers. Additionally, the commute between New York and North Jersey is made easy via Interstate 80 and Interstate 95. Interstate 80, which is less than a half mile away from the Property, connects to I-95, which can drop passengers right into New York City via the George Washington Bridge.

Investment Highlights

Holliday Fenoglio Fowler, L.P. (“HFF”) Net Lease Advisory is pleased to exclusively offer a premier net lease opportunity to acquire a brand new, single tenant, 20-year, full NNN ground lease property leased to Wawa (the “Property”) in Fairfield, NJ – one of the most prominent municipalities within the Essex County sub-market. Once construction is completed, Wawa, which is scheduled to open no later than October of this year, will operate on a long-term 20-year lease with attractive 10% rental increases every five years after the initial 10 years. The increases will be inclusive of the Six (6), Five (5) Year Options. The Property is located on the southwest corner of Passaic Avenue and Little Falls Road, which features a fully-signalized intersection. Additionally, Wawa, which is about 5 miles away from their next closest location, will be surrounded by a host of nationally recognized tenants such as: Target, Chase Bank, PNC Bank, BP Gas, and Dunkin’ Donuts, further increasing consumer traffic within and around the site.
Marc Mandel
Marc Mandel
Managing Director
Licensed in
0894218;AB068236
Steve Schrenk
Steve Schrenk
Director
Licensed in
1433421

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