Manchester Plaza/Manchester Township, NJ

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Retail

Manchester Township, NJ

304,215 SqFt

Built in 1993

Core Plus

Anchored by Market-Share Grocery Leader ShopRite in 65,250 SF performing in excess of $1,200 PSF in Sales with plans to renovate and expand existing store in 2022.
Anchored by Long-Term Ground lease with Lowe's Home Improvement (S&P rated BBB+) out of 167,400 sf, with sales up 20% over the previous three years.
10 Year CAGR of 3.58% with value-add upside in a major mark to market on over 60,000 sq/ft of shop space rents as well as the development of two additional 3,500 sf pads in front of Lowe's.
Located in high barrier to entry Manchester Township, approximately 70 miles south of NYC, whereby there are over 1,000 apartment units and 1,200 residential homes planned for the immediate area

First Vice President/ Division Manager

License(s): NJ: 2192359

New Jersey