QuickChek Carlstadt_Property for Sale
QuickChek Carlstadt_Property for Sale
720 Washington Street, Carlstadt, NJ, 07072, US

QuickChek Carlstadt

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”), a licensed real estate broker, has been retained on an exclusive basis to arrange the sale of QuickChek (the “Property”), a 5,496-square-foot convenience store with a fuel dispensing facility containing eight multi-product dispensers for automobiles and two for diesel pumps, situated on 2.26 acres in Carlstadt, NJ. The Property, a built-to-suit that finished construction in 2013, is on a favorable triple net lease. The in-place lease features a 20-year term (just under ten years remaining) with 10% rental escalations every five (5) years for land rent, and a 10% rental escalation for improvement rent after 10 years. In addition, the current lease offers two (2) 10-year renewal options with the same rent-step structure. With strong tenancy and term through 2053, assuming all extension options are exercised, the opportunity presents future investors strong, durable cashflow for an extended period of time.

QuickChek has been in business for over 50 years, founded in 1967 with their headquarters in Whitehouse Station, NJ. Murphy USA Inc. (NYSE: MUSA) (S&P: BB+) (“Murphy USA”) acquired QuickChek corporation in January 2021. The entity conducts its business across 27 different states, with 1,700 locations, and provides service to over 2.0 million customers per day. Murphy USA operates retail stores under the Murphy USA, Murphy Express, and QuickChek brands, while also having strategic partnerships with Walmart.

The Carlstadt QuickChek offers the unique opportunity to acquire a long-term cash flowing asset with a well-regarded gas and convenience tenant in a premiere Northern New Jersey location.  



Asking price
Building area gross
511 m²
Year built
Cap rate


Investment Highlights

Desired Convenience Store with Strong Backing

• QuickChek has been in business for over 50 years with over 155 locations throughout New Jersey, New York, and Pennsylvania.

• QuickChek was acquired by Murphy USA which has a market capitalization of approximately $5.5 billion and a 2022 total revenue of $21.27B.

Strong, Durable Cashflow with Term

• QuickChek is on an absolute NNN basis with an initial term through early 2033.

• The in-place lease features 10% rental escalations every five (5) years for land rent and a 10% rental escalation for improvement rent after 10 years.

• The lease also offers two (2) 10-year renewal options, which provides term until 2053.

• There are no full-service convenience store gas stations within a 3-mile radius of the Property, emphasizing the limited competition, which will inevitably drive demand.

Premiere Location and Demographics

• There are 31,033 businesses and 280,944 employees within a five-mile radius of the Property, emphasizing the need for a gas & convenience store.

• QuickChek is positioned ~2.1 miles from Route 17, ~2.3 miles from Route 3, ~4.0 miles from Interstate 95, and ~4.5 miles from Interstate 80. In addition, the asset is in close proximity to the American Dream Mall and Meadowlands Sports Complex, proving the Property’s unmatched accessibility.

• The population within a three-mile radius is 131,517 people.

• Within a three-mile radius, the average household income is $122,119 and the consumer spending is approximately $1.6 billion.

• Located in the densely, infill location of Carlstadt, land is heavily constrained, driving the desirability of the asset.

Contact brokers

QuickChek Carlstadt (0 Properties)

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Last updated
16 May 2024