Property Listing No Longer Available for Sale

1861 Burlington - Mount Holly Road

Westampton, NJ

Retail for Sale - $3,060,606 - 10,000 Sq. Ft. on 136 acres


Property Info

CIMLS#431482
Location
  1861 Burlington - Mount Holly Road
  Westampton NJ 08060
UpdatedMay 22nd, 2012
TypeRetail
Price$3,060,606
Building10,000 Sq. Ft.
Land136 acres

Property Description

This newly-constructed The Learning Experience property is situated along Burlington-Mount Holly Road (County Road 541) in Westampton Township, New Jersey. Westampton Township, with 7500 residents, is a thriving community with prime commercial acreage, a wide choice of residential communities, the Rancocas State Park which houses the Rankokus Indian Reservation and the Nature Center, and two country clubs with 18 hole championship golf courses. The subject property is surrounded by a number of residential developments. Within a three-mile radius of the site, there are approximately 34,700 people with an average household income level of $84,290. These number increase to about 93,167 people with an average household income level of $88,174 within a five-mile radius. In the immediate trade area is the neighborhood shopping center, Fairgrounds Plaza, anchored by Acme Markets, as well as the local elementary and middle schools. National tenants leasing space along County Road 541 include CVS/pharmacy, Staples, Pizza Hut, Dunkin' Donuts, Boston market, Edible Arrangements and Charlie Brown's Steakhouse.

Burlington County, the state's largest county in area, is comprised of 40 municipalities. Mount Holly is the county seat of Burlington County. The county seat had been in Burlington, but as population moved away from the Delaware River, a more central location was needed. The County is comprised of three cities, thirty-one townships and six boroughs. From the Pinelands recreation areas and farmlands to office and industrial parks, Burlington County with its rich history and modern development offers its residents a wide range of work, education and recreation opportunities. Burlington County extends from the Delaware River to the Great Bay on the Atlantic Ocean. It is centrally located in the Boston to Washington Corridor. Its location provides easy access to major highway via Interstate 295 with bridge access to I-95; the New Jersey Turnpike with a Pennsylvania Turnpike connector; the Garden State Parkway and U.S. Routes 130, 206, 70 and 73. Nearby is Philadelphia International Airport and Newark International Airport.


Financials

Marcus & Millichap offers for sale this 10,000 square foot, freestanding building with an additional 5,000 square foot play area leased to The Learning Experience. The tenant has signed a new 15 year double net lease (landlord responsible for roof and s structure) with three, five year option periods. During the base term of the lease and the option periods, the rent shall increase by 12 percent every five years. The lease carries a corporate guarantee for the first five years of the lease, and up to $500,000. The developer completed construction on the property in the fourth quarter of 2011, and rent is projected to commence on or about May 1, 2012. TLE has over 200 sites operating or currently under development in 28 states.

For Full Offering Memorandum Contact Listing Agent.