Retail
Under Contract

Vineland Shopping Center

1255 W Landis Ave, Vineland, NJ, 08360-3423, US

Vineland Shopping Center_Property for Sale

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Vineland Shopping Center 2_Property for Sale

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer Vineland Shopping Center (“The Property”), a 94,304 square foot, 100% occupied, grocery anchored shopping center located in Vineland, NJ. The shopping center features ShopRite, the dominant grocer in the county, in addition to a diversified tenant lineup with strong weighted average tenure of over 8 years. ShopRite, which is backed by a Wakefern Food Corporation lease, commenced operation in 2013 and has demonstrated success through strong and above average national sales. Additionally, 75% of the gross income is derived from ShopRite which has 10.8+ years of term remaining. The offering includes three of the five units that are apart of the condominium structure (see page 11 for more information). Situated in a densely packed retail corridor under 2 miles from Route 55 and the Route 56 intersection, Vineland Shopping Center features excellent curb appeal, visibility and access. Currently 100% occupied, the shopping center’s reliable mix of national and regional tenants such as ShopRite, Rite Care, and Great Clips provides a steady cash flow from in-place tenants.

Attributes

Building area gross
94,300 sf
Occupancy
100.00%
Year built
2013
Land area Gross
20.00 acres (871,200 sf)

Investment highlights

DOMINANT GROCERY ANCHOR IN SOUTHERN NEW JERSEY

  • ShopRite is the dominant grocery anchor in Cumberland County. ShopRite at Vineland Shopping Center has a proven track record of operational excellence, above average sales and over 10 years of remaining term.

COMPLEMENTARY MERCHANDISING MIX WITH HIGH TENURE TENANCY

  • 8.2 weighted average tenure
  • 10.1+ weighted average lease term
  • 79% gross income from tenants with 9+ years of tenure
  • 75% gross income from Shoprite

PREMIER LOCATION & ACCESS WITH REGIONAL CONNECTIVITY

  • Vineland Shopping Center is in close proximity to highly trafficked intersections - Route 55 (19,100+ VPD) and Route 56 (18,200+ VPD). Route 55 provides direct access to Philadelphia where traffic counts exceed a total of 37,000 vehicles per day.

DEFINED TRADE AREA

  • According to Placer.ai, which tracks cell phone pings of consumers visiting the Property, 80% of Visitors to the Property are coming from a population of 125,347 with a total trade radius of nearly 133.25 square miles.
Vineland Shopping Center 4_Property for Sale

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Last updated
Nov 30, 2022