Northpark Village
US - Lubbock, TX
£8,161,000 | 70,479 sf
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer qualified investors the opportunity to acquire a brand-new ALDI grocery store (the “Property) in the densely populated, Philadelphia suburb of Reading, PA. ALDI is prepared to commence operations at this location in 2023 and signed onto an initial 15-year lease with three (3) five (5) year options, demonstrating a strong commitment to the location. ALDI is a privately held corporation and a leading discount grocer in the U.S. who remains in an aggressive growth program.
Note: This is a forward sale. Lease Commencement will begin when the store is operational, or at the latest 6 months from 12/1/2022
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Attributes
Asking Price
£6,240,000
Building area Gross
22,940 sf
Occupancy
100.00%
Year built
2022
Cap Rate
4.85%
NOI
£303,000
Media
Investment Highlights
IN DEMAND DISCOUNT GROCER WITH NEW LONG-TERM LEASE AND NEW STORE PROTOTYPE
- 15 Year Lease Term
- $16.40 Rent PSF
- 22,940 Square Feet
SIGNIFICANT INFILL MARKET PROVIDING OPPORTUNITY TO CAPTURE SURROUNDING DENSITY
- 116,500+ Population Within 3 Mile Radius
- $67,800+ Average HH Income Within 3 Mile Radius
EXCELLENT ACCESSIBILITY AND DIRECT CONNECTION TO MAJOR HIGHWAYS
- 17,000+ VPD on Papermill Road
- 78,300+ VPD on U.S. Route 422
Contact brokers
ALDI - Reading, PA (0 Properties)
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Last updated
4 May 2023
