Retail
Under Contract

Laurel Plaza

1000 N Pearl Street, Bridgeton, NJ, 08302, US

Laurel Plaza_Property for Sale

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Laurel Plaza 2_Property for Sale

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer Laurel Plaza (“The Property”), an 81,347 square foot, 100% occupied, grocery anchored shopping center located in Bridgeton, NJ. The shopping center features the dominant grocer in the county, ShopRite, in addition to a diversified tenant lineup that boasts a weighted average tenure of over 20 years. ShopRite, which is backed by a Wakefern Food Corporation lease, commenced operation in 2000 and has demonstrated their success through strong and above average sales. Additionally, 80% of the gross income is derived from ShopRite which has 15.7+ years of term remaining. Situated in a densely packed retail corridor near the signaled intersection of Route 56 and Route 77, Laurel Plaza features excellent curb appeal, visibility and access. Currently 100% occupied, the shopping center’s reliable mix of national and regional tenants such as ShopRite and H&R Block provides a steady cash flow from in-place tenants.

Attributes

Building area gross
81,346 sf
Occupancy
100.00%
Year built
1999

Investment highlights

  • DOMINANT GROCERY ANCHOR IN SOUTHERN NEW JERSEY
    • ShopRite is the dominant grocery anchor in the Cumberland County. The ShopRite at Laurel Plaza has a proven track record of operational excellence, above average sales and over 15 years of remaining term with six (6) 5 year options. 
  • COMPLEMENTARY MERCHANDISING MIX WITH HIGH TENURE TENANCY
    • 20.1+ Years Weighted Average Tenure
    • 13.4+ Years Weighted Average Lease Term
    • 95% of Gross Income From Tenants with 10+ Years Tenure
  • PREMIER LOCATION & ACCESS WITH REGIONAL CONNECTIVITY IN A PREMIUM RETAIL CORRIDOR
    • Laurel Plaza is in close proximity to a highly trafficked signalized intersection - Route 77 (14,700+ VPD) and Route 56 (13,000+ VPD). There is a four-way signalized intersection that provides ingress/egress from both North and South bound traffic on Route 55 where traffic counts exceed 40,000 vehicles per day.
Laurel Plaza 4_Property for Sale
Laurel Plaza 4_Property for Sale

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Last updated
Nov 30, 2022