Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Attributes

Year Built 1988
Lease Type NN
Lease Expiration 2031-02-28
Remaining Term 9 years, 6 months
Tenant Burlington Coat Factory
Building Area
Land Area ()
Number of units 1

Property Description

Jones Lang LaSalle Americas, Inc. (“JLL") is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant property leased to Burlington (the “Property") in Philadelphia, PA - a city that contains the 8th largest MSA population in the United States. Burlington began operations in this space in March 2020 and has 10 years of remaining lease term. The lease features rental increases of $1 PSF every five years beginning year 7, inclusive of the three (3) five (5) year options and one (1) four (4) year six (6) month option that remain.

Investment Highlights

  • The Property is situated on a large, 3.41-acre parcel at the corner of the fully signalized intersection of Aramingo Avenue (20,000 VPD) and Ontario Street. The site is also located just off Interstate 95 (130,000 VPD).
  • The Property is 5 miles away from Center City Philadelphia and minutes away from burgeoning neighborhoods such as Fishtown and Kensington. In 2018, Forbes named Fishtown as ‘America’s Hottest New Neighborhood.'
  • There are more than 324,000 people within a 3-mile radius of the Property. The Philadelphia MSA contains more than 6 million people and is ranked as the 8th largest MSA in the United States.
  • Across the street is Imperial Plaza, a 126,000 SF shopping center anchored by ROSS; Shoppers World is adjacent to the premises; and Walmart, Target, The Home Depot, Lowe’s and ShopRite are all just 1 mile away.
Last Updated Date: 24 May 2021
Christopher Munley
Christopher Munley
Senior Managing Director, Capital Markets
License details
# NJ-0683560 PA-RS314499
Colin Behr
Colin Behr
Senior Director, Capital Markets
License details
PA-RS318490

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Last Updated Date: 24 May 2021

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