Walgreens: East Brunswick, NJ
Retail | 6.35% CAP | 13,350 SqFt
Marketing description
The CBRE Net Lease Property Group is pleased to offer for sale the 13,350-square-foot Walgreens situated on 4.76 acres in East Brunswick, NJ — part of the Newark-Union, NJ-PA MSA (MSA Population: 2.1M+). The site is subject to a ±12.9-year absolute NNN lease with a 5% rent increase every 5 years throughout the term and in each of the twelve 5-year renewal options.
Investment highlights
NNN LEASE WITH RENEWAL OPTIONS: The site is subject to a ±12.9-year absolute NNN lease with a 5% rent increase every 5 years throughout the term and in each of the twelve 5-year renewal options.
EXCELLENT ACCESS & VISIBILITY: Located approximately 4 miles southeast of New Brunswick, NJ, Walgreens is positioned with excellent access and visibility at the hard-cornered, signalized intersection of Ryders Lane (11,757 VPD) and Milltown Road (11,767 VPD). The site is directly adjacent to Vinnie’s Pizza & Subs and is directly across Ryders Lane from Wawa.
RETAIL & COMMERCIAL CORRIDOR: In total, there are 6.6 MSF of retail, 2.8 MSF of office, 12.3 MSF of industrial and 4,095 multi-family units within a 3-mile radius of the site. Major retailers in the surrounding area include The Home Depot, Target, Cold Stone Creamery, Applebee’s Grill & Bar, TD Bank, Urban Air Trampoline Park and Blinds To Go, to name a few.
NEWARK-UNION, NJ-PA MSA: The Newark-Union, NJ-PA Metropolitan Statistical Area is a metropolitan area located in the northeastern United States, spanning across the states of New Jersey and Pennsylvania. With a population of approximately 2.1 million people, it is a significant urban center in the region. The MSA is anchored by Newark, New Jersey, the state’s largest city, and includes the surrounding counties of Essex, Union, and parts of Morris and Passaic counties in New Jersey, as well as Philadelphia County in Pennsylvania. The area is a major hub for industry, education, and healthcare, with a diverse economy and a rich cultural heritage.
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