Hobby Lobby - East Hanover, NJ

JLL is pleased to exclusively offer for sale the brand-new Hobby Lobby in East Hanover, NJ (the “Property” or the “Asset”) within the greater New York City MSA. The Property is favorably situated within East Hanover Plaza, New Jersey’s second busiest neighborhood retail center with more than 5 million annual visits, per Placer Ai. Notable retailers within East Hanover Plaza include Costco, Home Depot, Target, HomeGoods, and PGA Superstore. The center’s positioning along NJ-10 benefits from its direct exposure to more than 30,000 VPD. East Hanover is a highly affluent community approximately 25 miles east of Manhattan. The Asset’s surrounding 1-mile radius is comprised of 13,000+ residents with average annual household incomes exceeding $260,000.

Upon opening in summer 2024, Hobby Lobby (the “Tenant”) will commence its 12-year, absolute NNN lease with 2.00% annual escalations and zero landlord responsibilities. This offering presents a passive income opportunity for investors seeking growing, long-term cash flow backed by industry-leading tenancy in a premier market with exceptional real estate fundamentals.