New Jersey Value-Add Office Property, Northeast Region

Property Description

New Jersey Office Property

Value Add: Potential pad site next to Wawa; Below market rents with CPI bumps; additional acreage for more commercial space.

Value-Add:
1. Add a 2 acre pad site
2. Execute lease with Cellular tower provider for 12k per year.
3. Add additional commercial building
4. Below Market Rents: 8.20 NNN rent, Market is $12/sf NNN

Existing Primary 6 Tenant(s) Overview:
1. World-class pharmacy services
2. Dermatology
3. Community based services group who is provided funding through contracts with the county and state.
4. Non-profit private institution for elementary, middle school, and high school students with academic and behavioral challenges.
5. Behavioral Health
6. Learning Center - operates daycare center

Average Tenant Term 5.5 Years

Recently renovated and leased.

The sale comes with some extra land to build on and some of the rents are extremely below market.

There is also a solar proposal that would add another $30,000 to $60,000 per year in NOI.

This offering is is completely off-market.

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