P.J. Whelihan's Pub & Restaurant | Rte. 611 Horsham, PA
Rapidly Growing Regional Brand | High Visibility on Rte. 611 in Horsham | New Construction
Marketing description
CBRE is pleased to exclusively present for sale this property leased to P.J. Whelihan’s Pub + Restaurant, operated by PJW Restaurant Holding, LLC, located at the signalized intersection of Easton Road and Blair Mill Road in Horsham, Pennsylvania. The property benefits from excellent visibility at a hard-corner signalized intersection along Route 611, a heavily trafficked retail corridor with exposure to 66,775 vehicles per day.
The tenant operates under a NNN lease with approximately four years remaining on the initial 10-year term, including three five-year renewal options and one additional four-year, eleven-month option. The lease provides 10% rental increases every five years, with the tenant responsible for its proportionate share of taxes and CAM, while the landlord maintains roof and structure and carries commercial general liability and special form property insurance.
Built in 2020, this 8,000-square-foot freestanding build-to-suit restaurant features a contemporary design including dedicated outdoor patio seating and offers the owner a tax shelter via depreciation. Built specifically for P.J. Whelihan’s, the new and modern construction eliminates near-term capital expenditure risk. The property is competitively positioned within today’s restaurant sector and offers flexibility for future restaurant occupants should P.J. Whelihan's ever vacate.
P.J. Whelihan’s is a well-established (43yrs) and growing regional brand with a strong presence throughout Pennsylvania and New Jersey. Operated by PJW Restaurant Holding, LLC, the company has built a loyal customer base and strong brand recognition as a leading sports bar and casual dining destination with 25+ locations. In 2021 Garnett Station Partners, a New York-based private equity firm that manages approximately $4 billion in assets, made a substantial investment into P.J.s to assist with the company’s growth strategy.
Investment highlights
Established & Successful Regional Restaurant Brand
The subject property is leased to P.J. Whelihan’s Pub + Restaurant, a well-established (43yrs) and growing regional brand with a strong presence throughout Pennsylvania and New Jersey. Operated by PJW Restaurant Holding, LLC, the company has built a loyal customer base and strong brand recognition as a leading sports bar and casual dining destination with 25+ locations. In 2021 Garnett Station Partners, a New York-based private equity firm that manages approximately $4 billion in assets, made a substantial investment into P.J.'s to assist with the company’s growth strategy. The NNN lease has 4 years remaining on the initial 10-year term, includes three five-year and one four-year eleven-month renewal options, and features 10 percent rental increases every five years throughout each option period.
High-Profile Signalized Corner
P.J. Whelihan’s is located at the signalized intersection of Easton Road and Blair Mill Road in Horsham, Pennsylvania, a heavily trafficked retail corridor with combined traffic counts of 66,775 vehicles per day. The restaurant occupies a 1.390-acre parcel within a larger 8.169-acre retail site also anchored by Wawa and CVS, along with two additional improved and approved “shovel-ready” pad sites for future development. The overall site benefits from exceptional visibility along Easton Road, multiple points of access, and a true “main and main” location within an established retail corridor.
New Construction Modern Restaurant Prototype with Strong Real Estate Fundamentals
Built in 2020, this 8,000-square-foot freestanding build-to-suit restaurant features a contemporary design including dedicated outdoor patio seating and offers the owner a tax shelter via depreciation. Built specifically for P.J. Whelihan’s, the new and modern construction eliminates near-term capital expenditure risk, including the roof, which is under a 20-year Carlisle manufacturer’s warranty through 11/2040. The property is competitively positioned within today’s restaurant sector and offers flexibility for future restaurant occupants should P.J. Whelihan's ever vacate.
Regional Accessibility
The subject property is less than 0.5 mile from the interchange of Easton Road (Route 611) and the Pennsylvania Turnpike (I-276), which carries over 100,000 vehicles daily. This irreplaceable location adjacent to the turnpike interchange provides convenient access for both local and regional traffic throughout Montgomery County and the greater Philadelphia area.
Established Rte. 611 Retail Corridor
Route 611, one of the most heavily traveled corridors in eastern Pennsylvania, features a dense concentration of national retailers, restaurants, and hotels, including Walmart, Sam’s Club, Giant, Lowe’s, Home Depot, Best Buy, AutoZone, McDonald’s, Wendy’s, Dunkin’, Sunoco, Verizon, and multiple Hilton and Marriott-branded hotels.
Exceptional Demographics
Horsham is located in Montgomery County, immediately outside of Philadelphia, one of Pennsylvania’s wealthiest counties. Within a five-mile radius, the trade area includes 209,978 residents with average household incomes exceeding $148,000 and positive population growth.
Employment and Daytime Population Drivers
The property sits at the entrance to the Pennsylvania Business Campus, a major office hub with several million square feet of space occupied by national employers. Jefferson Health – Willow Grove is also located less than one mile away, contributing to a five-mile daytime population of 223,506.
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
