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SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, corporate guaranteed, BB&T (S&P: A-) investment property located in Richwood, NJ (Philadelphia MSA). The tenant, Branch Banking and Trust Company, has 9 years remaining in their primary term with 2 (5-year) options and 1 (4-year) option to extend. The lease features rare 2% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.
The subject property is strategically located along Mullica Hill Road (28,700 VPD), just off State Highway 55 (48,600 VPD), a major north/south commuter thoroughfare serving the southern portion of New Jersey. The building also features a 3-lane drive-thru, providing ease and convenience for customers. The asset is just 3 miles west of Rowan University, a popular public research institution with over 19,000 students currently enrolled, providing a direct consumer base from which to draw. Additionally, the site is in close proximity to national/credit tenants including ALDI, LA Fitness, Staples, CVS Pharmacy, Dollar Tree, Wawa, and more, increasing consumer draw to the trade area. The 5-mile trade area is supported by a population of over 85,000 residents and more than 31,600 employees. The 1-mile trade area boasts an extremely affluent average household income of $176,203.
9 Years Remaining | Corporate Guaranteed Lease | Rare Annual Increases
Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Major Thoroughfare | Just Off State Highway 55 | Drive-Thru Equipped
Close Proximity to Rowan University (19,000 + Students) | Nearby National/Credit Tenants
Strong Demographics In 5-mile Trade Area | Affluent 1-Mile Trade Area