Lowe's - Mt. Olive, NJ_Property for Sale

20 International Drive South, Mount Olive, NJ, 07836, US

Lowe's - Mt. Olive, NJ

Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the single-tenant Lowe’s located at 20 International Drive S in Flanders, NJ (“Property” or “Asset”). Lowe’s is operating on an absolute NNN ground lease with ±12.2 years of lease term remaining and eight (8), five-year renewal options and 5.0% rent increases every 5-years. Lowe’s demonstrated their commitment to this location through a recent 15-year lease renewal, which included only one year of free rent, indicating the importance of this site.

This opportunity allows investors the ability to acquire a passive income stream from a leading home improvement retailer with investment grade credit.

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Attributes

Asking price

IDR 162,472,756,000

Cap rate

5.5%

NOI

IDR 8,936,002,000

WAULT

12.2 years

Building area net

12,546 m²

Media

Investment Highlights

Absolute NNN ground lease with ±12.2 years of lease term remaining and zero landlord responsibilities
Lowe's is the second largest home improvement retailer and holds an investment grade BBB+ credit rating
Incredible demand characteristics driven by 59% population growth since 2010 and average household incomes of $201K within a 1-mile radius
Anchors The Gardens shopping center, a top 6% retail center in NJ & the U.S.
Positioned at the crossroads of I-80 and US 206 with direct accessability to 124,000 VPD
Within ITC Crossing, a 684-acre development that serves 246,000+ residents