Greenleaf Shopping Center

Tenant

BJ's, LA Fitness, Xscape, Starbucks

Location

Howell , New Jersey

Price

$70,000,000

CAP Rate

Unstated

Lease Term

Various

Occupancy

100%

Building Size

228,664

Property Type

Multi-Tenant

Year Built

2015-2019

Lot Size

50.63 acres

Status

Available

Property Contacts:

Karly Iacono

Vice President

(201) 742-6119 | Email

  • Value-Add Opportunity: 117,505 Sq. Ft. Fully Entitled Expansion
  • Long Term Leases: BJ’s Wholesale, LA Fitness, Xscape Theatres, Starbucks, and T-Mobile
  • Strong Leasing Activity: Supporting Expansion
  • Solid Cash Flow: 85% of NOI from national, regional, and credit tenants
  • New Residential Development: 2,331 multifamily and single-family units planned or underway

Marcus & Millichap has been chosen to exclusively offer for sale the fee simple interest in Greenleaf at Howell, a newly constructed open air community center located in Howell Township, New Jersey. The 50.63-acre site is at the northeast corner of U.S. Route 9 and Lanes Mill Road, providing favorable visibility along the Route 9 Corridor. Greenleaf at Howell presents the value-add opportunity to build an additional 117,505 square feet of commercial space to achieve projected mid-teen internal rates of return. Entitlements are in place, creating enhanced value of the to-be-developed land within the center.

 

FOR MORE INFORMATION:

www.GreenleafatHowell.com