Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the single-tenant ImageCare at BREMS Hunterdon (the “Property” or “Asset”) located at 1 Dogwood Dr, Annandale, NJ. The Property is 100% leased by ImageCare (the “Tenant”) with a guaranty from Hackettstown Radiology Associates, LLC (the “Guarantor”) under an absolute NNN lease structure with 14.3 years of lease term remaining and 3.0% annual rent bumps annually, subject to three consecutive 5-year extension options.
ImageCare is a renowned provider of diagnostic imaging services to patients in New Jersey. They have 22 locations throughout the state, offering radiology and digital medical imaging services. ImageCare's facilities are equipped with advanced technology, providing high-quality services that are easily accessible to residents. The company has invested significantly in modern and comfortable machines to ensure efficient and top-notch testing for patients. The Guarantor is the largest entity in the ImageCare family, with ownership over 10 locations.
The Property is ideally situated along Route 31 (30K VPD), adjacent to I-78, which directly connects the area to the New York City CBD. The Asset is located just an hour from New York City and Philadelphia, the county is within reach of one of the most concentrated and affluent consumer markets in the world. The Property is situated within the New York City MSA, the largest metro in the country by population and economic production.
The Asset presents investors with the opportunity to acquire sought-after medical office real estate on a long-term lease with attractive rental increases within the New York City MSA.
- 14.3 years remaining on an aboslute triple net lease with zero landlord responsibilities
- Attractive 3.0% rent bumps annually
- Situated along highly trafficked route 31 (30K VPD) adjacent to I-78 (100K VPD)
- Located within the New York City MSA, the largest metro in the country with an annual GDP of $2.1+ trillion