The Commissary
Flex / Experiential Retail Asset Near Netflix Redevelopment
Marketing description
As exclusive agent, Cushman & Wakefield is pleased to offer 675 Oceanport Way, Oceanport, New Jersey 07757 for sale. This asset, known as "The Commissary," consists of one condominium unit within the larger "Baseline at the Fort" redevelopment project. The parcel is known as "Unit H" within the condominium and ownership features a 21.26% interest in the common elements of the development. Additionally, the parking spaces and loading dock areas that support 675 Oceanport Way have been defined as limited common elements for the exclusive use of Unit H, a significant benefit for this property.
The asset consists of a 52,937 SF retail and flex asset that is 95% leased to three tenants. The property is one of the remaining buildings on the original Fort Monmouth Army Installation and has undergone a full adaptive reuse project to become a cornerstone of the larger Fort Monmouth Reuse and Redevelopment Plan. The site is leased to Baseline Social (Bar and Upscale Social Lounge), Birdsmouth Beer (Brewery and Tap Room), and Mr. Green Tea Mochi (Ice Cream Manufacturing Facility). 675 Oceanport Way sits less than 1 mile from the brand-new Netflix Fort Monmouth Studio development, a $1 billion+ investment that is estimated to add 1,400 permanent jobs to the local economy once completed.
Investment highlights
Desirable Location in a Hot Market
• Located within the Fort Monmouth redevelopment, a master-planned mixed-use district with approximately $2 billion in committed investment and an estimated 10,000 permanent jobs created at stabilization
• Less than 1 mile from the Netflix studio campus, a $1 billion project expected to create 1,400+ permanent jobs
• Proximity to affluent Monmouth County demographics with average household incomes of $173,977 and strong seasonal demand drivers stemming from Jersey Shore tourism
Investment Metrics that Work
• Ability to lease remaining 2,596 SF vacancy and/or optimize tenant mix to drive NOI growth
• Minimal landlord exposure to operating expense growth stemming from Net lease structures
First-In Advantage
• Long-term growth supported by surrounding institutional investment including the Netflix studio campus
• Positioned to benefit from sustained Jersey Shore demand growth driven by post-COVID migration trends, tourism,
and continued commercial expansion in Monmouth County
• One of the few remaining original Fort Monmouth structures, offering a differentiated, irreplaceable asset within a
fully redeveloped environment
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