QuickChek Carlstadt

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.