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Manchester Township, NJ
Built in 1993
- 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