Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Year Built 2017
Building Area
Occupancy 100.0 %

Property Description

Wild Wing Café is operating on a long-term, 20-year NNN Ground Lease with 10% rental increases every five (5) years in the base term and twelve percent (12%) rental increases in each of the four (4), five (5) year renewal options. The low, below-market, annual rent creates a value-add opportunity should the building need to be released.

Investment Highlights

JLL is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single-tenant, NNN ground lease property leased to Wild Wing Café (the “Property”) located in Barrington, NJ. The densely populated borough of Barrington has an affluent population of over 110,000 people with an average household income of over $115,000, all within a 3-mile radius of the property. Wild Wing Café is on a 20-year, guaranteed lease which commenced in 2017, and has four, five (5) year options to renew. The low, below-market, annual rent creates a value-add opportunity should the building need to be released. Wild Wing Café’s lease has ten percent (10%) rental increases every five (5) years and twelve percent (12%) rental increases in all four of their 5-year renewal options.
Marc Mandel
Marc Mandel
Managing Director, Capital Markets
License details
PA - AB068236 DE - RS-0019936 NJ - 0894218
Steve Schrenk
Steve Schrenk
Director, Capital Markets
License details
NJ-1433421

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