5029 ROUTE US-130

Property Description

PROPETY SUMMARY

IPRG, as the exclusive broker, is proud to present the sale of the property located at 5029 Route 130, also known as Greenleaf at Delran, in Delran Township, NJ (the “Property”). The Property is a 168,350 square-foot shopping center located at the intersection of Route 130 and South Chester Avenue. The building is located on a 15.47-acre lot.

The one-story building contains 9 retail spaces with access to over 500 parking spaces in an outdoor surface lot. Six loading docks are located in the rear of the building, with space to maneuver and operate trucks. The Property also has great frontage, as it possesses approximately 580 feet along Route 130 and approximately 280 feet located along South Chester Avenue.

Current tenancy at the Property includes Edge Fitness Club, Ashley Homestore Furniture, Lightbridge Academy, Funzilla, Birds Exotic, and American Red Cross. There are currently three vacant units totaling 39,349 square-feet. Additionally, variances have been granted which allows a 3,400 square-foot pad site to be built on the property.

INVESTMENT HIGHLIGHTS

1. BELOW MARKET RENTS
   1. Several tenants are currently on below market leases, offering an arbitrage opportunity.
2. NATIONWIDE TENANCY
   1. Edge Fitness is a premium nationwide fitness center chain and is on a NNN lease through 2028, with renewal options through 2048.
3. PRIME RETAIL FRONTAGE
   1. The Property has a total of approximately 580 feet of retail frontage along Route 130, which is a major corridor of the area.
4. HIGH VEHICULAR TRAFFIC
   1. Route 130 in Delran Township experiences a vehicle count of approximately 44,000 vehicles per day.
5. VALUE-ADD OPPORTUNITY
   1. The Property offers an opportunity to bring in another credit tenant, as there is one vacant space that comprises approximately 25,000 sf.
6. PAD SITE
   1. There has been a resolution passed by the Delran Township Planning Board that permits a ~3,400 square-foot pad site to be built
      on the southeastern part of the property