Pleasantville Shopping Center
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
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