142 NJ-73, Voorhees Township, NJ, 08043, US

Aldi - Voorhees, NJ

Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the ground leased interest in a ±19,054 square foot, single-tenant Aldi located at 142 NJ-73 in Voorhees Township, New Jersey (“Property” or “Asset”). Aldi is currently operating on a 20-year ground lease (subject to condo declaration) with ±13.0 years of term remaining, four, five-year options and 10.0% rent escalations every 5-years.

Aldi is positioned in Voorhees Township within the southeastern submarket of the Philadelphia MSA. The Township is home to a highly affluent residential base, with an average household income of $278,000+ within a 1-mile radius. Voorhees Township is recognized as one of the best places to live in New Jersey

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Attributes

Asking price

CA$6,274,000

Cap rate

5.35%

NOI

CA$336,000

WAULT

13 years

Building area net

1,770 sm

Year built

2018

Land area gross

0.73 ha

Media

Investment highlights

Aldi is one of America's fastest-growing retailers with plans to add 800 stores nationwide by the end of 2028
Operating on a ground lease with ±13.0 years of primary lease term remaining and four, five-year renewal options with 10% rent increases every 5-years
Incredible demand characteristics driven by a 1-mile AHHI of $278K and 158K+ residents within a 5-mile radius
Positioned as a pad site to Lowe's and BJ's Wholesale which generate a combined 1.6M+ visits annually
Adjacent to Virtua Voorhees Hospital, a full-service, award-winning medical center with 368-beds