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

Documents

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Attributes

Year Built 1977
Building Area

Property Description

A 115,300 square foot, 95% occupied grocery anchored retail center located in Bridgeton, Cumberland County, NJ.


The Property is highlighted by the Aldi grocery anchor and three other credit anchor tenants in Ollie’s Bargain Outlet, Tractor Supply and Dollar Tree. These four credit anchor tenants total 61% of the gross income and combine for a weighted average tenure of seven-years. The remaining inline space totals 26,484 square feet and is dominated by a number of service-oriented uses including a cleaner, restaurant, nail salon and spa. There is one outparcel occupied by Fresenius Kidney Care, taking up the remaining 4,714 square feet at the center. Fresenius signed its lease in 2018 for a ten-year term. Potential upside exists through two undeveloped outparcels along Cornwell Drive, which provides high visibility for a future tenant.  

Investment Highlights

  • 115,300 square foot, 95% occupied grocery anchored retail center in Bridgeton, Cumberland County, NJ
  • Aldi anchor center with eleven years of tenure and three years remaining term
  • Strong credit anchor tenants in Aldi, Dollar Tree, Ollie’s Bargain and Tractor supply – contributing to 61% of gross income
  • Strong leasing momentum – 65% of the centers GLA has either renewed or executed a new lease since 2018
  • Potential for value-add execution through two undeveloped pad site

Chris Munley

Senior Managing Director

T +1 484 532 4207

M +1 609 610 1096

c.munley@am.jll.com


Jim Galbally

Senior Managing Director

T +1 215 988 5551

james.galbally@am.jll.com


Colin Behr

Senior Director

T +1 215 399 1819

M +1 215 896 4253

colin.behr@am.jll.com

Last Updated Date: 30 Mar 2021
Chris Munley
Chris Munley
Senior Managing Director, Capital Markets
License details
NJ-0683560 PA-RS314499
James Galbally
James Galbally
Senior Managing Director, Capital Markets
License details
PA - RS295928

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Last Updated Date: 30 Mar 2021

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