US - Lubbock, TX
A$15,235,000 | 6,548 m²
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer Waretown Town Center ("The Property"), an 87,535 square foot, 100% leased, ShopRite-anchored shopping center located in Waretown, Ocean County, NJ. ShopRite, the dominant grocer in Ocean County, accounts for 53% of the Property’s gross income with nearly 10 years of term remaining and 15 years of tenure at the Property. Built-in 2008 to service a burgeoning community situated between New Jersey’s Pine Barrens and the coastline, the Property features a complementary merchandising mix with contemporary retail uses that include medical, food & beverage, and various service-oriented uses that service the surrounding trade radius.
Waretown Town Center is a well-positioned grocery-anchored shopping center with an excellent weighted average tenure of +13.9 years and a highly complementary, contemporary merchandising mix with uses that include food & beverage, medical, and other various service-oriented retail uses. The Property provides investors a stable income stream with +8.1 years of the weighted average lease term and a stable in-place cash flow with over 76% of income derived from tenants from the original construction in 2008 and 75% of income derived from credit and national tenancy.
Waretown Town Center offers investors a secure, durable income stream from an essential tenant base and dominant grocery anchor, well-located along the highly trafficked Route 9 in a coastal New Jersey community with robust growth in housing inventory over the last decade and high barriers to entry.