QuickChek Carlstadt
720 Washington Street, Carlstadt, NJ, 07072, US
IDR 161,845,695,000 | 511 m²
Description
Jones Lang LaSalle is pleased to present the opportunity to acquire Princess Anne Marketplace – a 26,578 square foot shopping center in Virginia Beach, Virginia - Shadow Anchored by Target and Featuring a Dunkin’ Drive-Thru.
Built in 1998 and 1999, Princess Anne Marketplace consists of two freestanding retail centers – 2052 and 2076 S Independence Blvd. The Property is 100% leased with 6.5 years of WALT and is located within a larger shopping center shadow anchored by a 111,966 square foot Target. The Property has upside through future rent increases due to current below market rents.
2076 S Independence Blvd contains three tenants: Ivy Rehab, Jackson Hewitt Tax Service, and Acredale Animal Hospital. 2052 houses two insurance providers – State Farm and Direct Auto Insurance – and features a variety of restaurant options including Dunkin’, Papa John’s, Golden China, A&M Finest Deli, and Sweet Frog.
The Property is situated at the heavily trafficked intersection of S Independence Blvd and Princess Anne Rd, providing access to 75,000 vehicles per day.
Endorsed by strong surrounding retail presence, the Property is located in a high-performing retail node in Virginia Beach. Located in the Hampton Roads MSA, the Property is situated in a stable market supported by the United States Navy and The Port of Virginia.
...
Attributes
Building area net
2,469 m²
Occupancy
100%
Year built
1998
WAULT
6.5 years
Media
Investment Highlights
- SHADOW ANCHORED BY TARGET ON HIGHLY TRAFFICKED INTERSECTION OF 75,000 VPD
- 122,125 POPULATION WITH $110,368 AHHI WITHIN A 3-MILE RADIUS
- 100% OCCUPIED WITH 6.5 YEARS OF WALT
- 77% OF GLA OCCUPIED WITH NATIONAL TENANTS
- UPSIDE FROM BELOW MARKET RENTS: SWEET FROG, STATE FARM AND GOLDEN CHINA 48%, 30% AND 36% BELOW FMV RESPECTIVELY RESULTING IN A 3.41% 10-YEAR NOI CAGR
- MINIMAL NEAR-TERM CAPITAL REQUIRED, WITH RECENT UPGRADES TO SIDEWALKS, PARKING LOTS AND FACADES, AS WELL AS A ROOF RENOVATION PERFORMED IN 2018.
Contact brokers
Princess Anne Marketplace (0 Properties)
JLL can help you finance and manage your portfolio. Email us today to see how we can help achieve your ambitions.
Last updated
13 Aug 2025
