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Auto Service - Gas-Conv

Quickchek

1850 Easton Ave, Franklin Township, NJ 08873

Listing Price: $7,222,222

Cap Rate
4.50%
Tenant Name
Quickchek
Years Remaining On Lease
18.3
Gross SF
5,670
Guarantor
Corporate Guarantee
Rentable SF
5,670
Price/Gross SF
$1,273.76
Lease Type
Ground Lease
Rent Per Square Feet
$57.32

Investment Overview

Marcus & Millichap is pleased to exclusively present the opportunity to purchase a new construction, ground leased QuickChek located in Somerset, New Jersey. The subject property is located right off interstate 287, on Easton Avenue, a connecting thoroughfare for area commuters that sees over 43,000 vehicles per day. Somerset is a densely populated suburban New Jersey submarket in close proximity to the New York City MSA. The property benefits from cotenancy with a Bristal Assisted Living Community and a future hotel site and is prominently and strategically positioned for highway traffic and accessibility. QuickChek, a subsidiary of Murphy Oil, has over 18 years remaining on an initial 20-year term with rent escalations every five years and in each five-year renewal option. The oversized lot comes with minimal landlord responsibility and offers investors the opportunity to add a trophy net lease asset in a premier market to their portfolio. QuickChek is a best-in-class tenant within the highly sought-after convenience sector and a tier-one retailer that is both online and recession resistant, with awards including but not limited to: Foodservice Innovator of the Year, Best Place to Work and notably, Chain of the Year. Additional information on the opportunity is available upon request. 

Investment Highlights

  • Corporate Guaranty from Quickchek
  • Brand New Ground Leased 16 Pump Gas Station + Convenience Store
  • Attractive Rental Increases with 10% every five(5) years during the initial term and during the option periods
  • Phenomenal Demographics: 5-Mile Population: 220K+; 5-Mile Average Household Income: $118K+
  • Oversized 3.13 Acre Parcel
  • Highly Trafficked Location, Excellent Access and Visibility

Broker of Record

  • John Horowitz

    First Vice President/ Division Manager

    (201) 742-6100

    License(s) NJ: 2192359

    New Jersey

Financing By

Auto Service - Gas-Conv

Quickchek

Listing Price: $7,222,222

Cap Rate
4.50%
Tenant Name
Quickchek
Years Remaining On Lease
18.3
Gross SF
5,670
Guarantor
Corporate Guarantee
Rentable SF
5,670
Price/Gross SF
$1,273.76
Lease Type
Ground Lease
Rent Per Square Feet
$57.32

Investment Highlights

  • Corporate Guaranty from Quickchek
  • Brand New Ground Leased 16 Pump Gas Station + Convenience Store
  • Attractive Rental Increases with 10% every five(5) years during the initial term and during the option periods
  • Phenomenal Demographics: 5-Mile Population: 220K+; 5-Mile Average Household Income: $118K+
  • Oversized 3.13 Acre Parcel
  • Highly Trafficked Location, Excellent Access and Visibility

Investment Overview

Marcus & Millichap is pleased to exclusively present the opportunity to purchase a new construction, ground leased QuickChek located in Somerset, New Jersey. The subject property is located right off interstate 287, on Easton Avenue, a connecting thoroughfare for area commuters that sees over 43,000 vehicles per day. Somerset is a densely populated suburban New Jersey submarket in close proximity to the New York City MSA. The property benefits from cotenancy with a Bristal Assisted Living Community and a future hotel site and is prominently and strategically positioned for highway traffic and accessibility. QuickChek, a subsidiary of Murphy Oil, has over 18 years remaining on an initial 20-year term with rent escalations every five years and in each five-year renewal option. The oversized lot comes with minimal landlord responsibility and offers investors the opportunity to add a trophy net lease asset in a premier market to their portfolio. QuickChek is a best-in-class tenant within the highly sought-after convenience sector and a tier-one retailer that is both online and recession resistant, with awards including but not limited to: Foodservice Innovator of the Year, Best Place to Work and notably, Chain of the Year. Additional information on the opportunity is available upon request. 

Broker of Record

  • John Horowitz

    First Vice President/ Division Manager

    (201) 742-6100

    License(s): NJ: 2192359

    New Jersey

Financing By

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