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34227459
34227458

600-800 Black Horse Pike, Pleasantville, NJ 08232 For Sale

JM
IL IL
JLL Philadelphia
PH
PA RS369496
JLL - Philadelphia, Pennsylvania
Listed by JLL Philadelphia, JLL - Philadelphia, Pennsylvania
Unpriced
12 days on market
Updated 11 days ago

Pleasantville Shopping Center

Details
Property Type Retail
Sub Type Shopping Center
Square Footage 203,430
Year Built 1983
Ground Lease No

203,430 SF Value-Add Grocery-Anchored Shopping Center | Pleasantville, NJ

Marketing description

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to exclusively offer Pleasantville Shopping Center (the "Property"), a 203,430 square foot grocery-anchored shopping center located in Pleasantville, Atlantic County, NJ. Anchored by Asian Supermarket, which has operated at the center for +23 years with +7.6 years of remaining term, the Property features a highly complementary merchandising mix with retail uses that include F&B, telecommunications, beauty & spa and various additional service-oriented uses with +5.9 years of weighted average lease term remaining and +12.2 years of weighted average tenure. At 89% occupancy, the Property provides investors with a stable, predictable revenue stream alongside the value-add opportunity to lease-up +22,500 SF of vacancy and continuously mark small shop rents to market.

Pleasantville Shopping Center enjoys excellent positioning along Route 40 / Black Horse Pike (+40,000 VPD) in a high barrier-to-entry market in the Egg Harbor / Atlantic City trade area and just 1.5 miles from the interchange of the Atlantic City Expressway (+80,000 VPD) and the Garden State Parkway with a population of +101,000 and average household income of +$118,000 within a

5-mile radius.

Pleasantville Shopping Center is a quintessential, best-in-class neighborhood shopping center ideally positioned in a densely populated submarket with excellent roadway access, visibility and proximity to an abundance of daytime demand drivers.

Investment highlights

  • Grocery-Anchor with Strong Remaining Term and Excellent Tenure
  • Well Balanced, Diversified Merchandising Mix with Strong Lease Term Remaining
  • Value-Add Opportunity Via Lease-Up of Remaining Vacancy & Mark-to-Market
  • Opportunity to Spin Off Free-Standing Pad in STNL Submarket
  • Destination-Oriented Retail with Infill Positioning
  • Ideally Situated Along Highly Trafficked Roadway within an Infill Submarket

Listing Contacts

JM
IL IL
JLL Philadelphia
PH
PA RS369496
JLL - Philadelphia, Pennsylvania
Listed by JLL Philadelphia, JLL - Philadelphia, Pennsylvania

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