Maintree Shopping Center – Vineland, NJ
Offering Price: Submit Offer
- 138,445 Square Feet
- Grocery anchored shopping center with upside potential
- Value Add opportunity with lease-up of 23,952 square feet (17.3% of GLA)
- 98% National and Regional tenants
- 78% Investment Grade tenants
- Internet resistant tenant mix including grocery, health, beauty, fitness and five restaurants
- ACME Markets recently exercised its option to renew at a higher rent
- Potential to sell off four pad site tenants – Boston Market, Burger King, Pizza Hut and MedExpress at lower cap rates as single tenant net leased properties
- Located in an Urban Enterprise Zone with low 3.31% sales tax rate (versus the 7% rate charged statewide)
- Densely populated Southern New Jersey market with close to 50,000 people with 1.4% projected growth within a three-mile radius
- Offered Free and Clear of existing debt giving the new owner the ability to capitalize on current low-interest-rate financing