The property came with a 20-year absolute NNN ground lease to Chase Bank situated on 1.42 acres in Hillsborough Township, New Jersey. The location was strategically selected because it is ideally situated between the township's two largest power centers, at a signalized intersection within the areas preeminent retail corridor on Route 206. Other major retailers in the immediate area include: Lowe' s Home Improvement, Kohl' s, HomeGoods, Weis, PNC Bank, Payless Shoesource, Staples, Applebee' s. Dunkin' Donuts, TD Bank, McDonald's, Burger King, Taco Bell, Pizza Hut, Five Guys, Shell, Shop Rite, Starbucks, Subway and Wells Fargo
The property sold for $5,400,000 which represents a cap rate of 5.09%. Andrew Greenberg, Director of Investment Sales for ERG Property Advisors represented the buyer. Chris Bosworth and Will Pike of CBRE represented the seller
For more information about this property, please contact or Andrew Greenberg at (646) 253-0950 his email is email@example.com.
About ERG Property Advisors
ERG Property Advisors is a full-service commercial brokerage company based in New York City. Our core activities are investment sales, mortgage brokerage and direct capital services. While focused on the broader New York City area as a company, ERG also offers specific market knowledge at the submarket level. Beyond core New York City properties, ERG’s Retail Division specializes in the disposition of commercial investment real estate property nationally with a focus on freestanding Net-Lease properties. In addition to assisting property owners and prospective buyers, ERG provides banks, appraisers, attorneys, and accountants with information and skill sets that support them in their respective roles. Through strategic alliances with select companies we are able to offer our clients access to mortgage brokerage, direct capital services and investment sales brokerage.