Description

Jones Lang LaSalle Americas, Inc.(“JLL”) is pleased to exclusively offer for sale the fee-simple interest in the single-tenant SRS Distribution (“Company” or “Tenant”) property located at 195 Leonardville in Belford, NJ. The Tenant is operating on an NN lease with ±9.6 years of remaining term and features attractive 3.75% annual rental escalations.

This offering represents a rare opportunity to acquire a 4.85-acre industrial outdoor storage (IOS) site with extremely low site coverage (±7.8%), a highly sought-after asset class in the dense, high-barrier-to-entry Northern New Jersey industrial market.

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Attributes

Asking price

€4,798,000

Cap rate

Annual escalation

Fixed

WAULT

9.6 years

Building area net

1,518 m²

Land area gross

0 m²

Media

Investment Highlights

Tenant recently acquired by world's largest home improvement retailer, The Home Depot (S&P: A)
Long-term, ±9.6-year NN lease structure
Located in thriving residential community with 135K homes occupied by residents with high disposable incomes
4.8-acre IOS site with only 7.8% building FAR coverage, providing critical outdoor storage functionality
Tenant, SRS, is the fastest-growing distributor of building products with $10B in annual revenue
$186K average household incomes within a 3-mile radius
Exceptional access to the economic engines of New York City, Newark, and Philadelphia
Extremely favorable 3.75% annual rental escalations