4600 Route 42
Turnersville, NJ 08012
Retail Property For Sale

CBRE’S NET LEASE PROPERTY GROUP is pleased to exclusively offer a 6,260-square-foot freestanding Carrabba’s Italian Grill and a 6,210-square-foot freestanding Outback Steakhouse on a single 4.26-acre parcel in Turnersville, NJ (Philadelphia MSA). The properties are located on the same parcel, and must be purchased together. This asset provides a unique opportunity to acquire two well-located free-standing buildings situated on a large 4.26-acre parcel at a price point comparable to a single restaurant asset. Carrabba’s and Outback are ideally situated with excellent frontage and visibility located on East Black Horse Pike (38,700 VPD) just 3.25 miles from the Atlantic City Expressway. Black Horse Pike is the area’s preeminent retail corridor, highlighted by the 216,623-square-foot Cross Keys Commons shopping center (Anchors: Walmart Supercenter, Ross, Marshalls, and Party City. Other surrounding national retailers include ALDI, Lowe’s, Target, Kohl’s, Sam’s Club, and Home Depot among many others. The subject properties benefit from strong demographics with a population in excess of 62,000 within 3 miles. At closing, Carrabba’s and Outback will execute new 15-year absolute NNN leases with 1.00% annual rent increases. This investment offers investors the opportunity purchase two net leased assets leased on a long-term NNN basis to one of the country’s premier casual dining restaurant operators.