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9 Landis Ave
Bridgeton, NJ 08302

Walgreens | Attractive Pricing! · Retail Property For Sale

PROPERTY FACTS

Property Type
Retail
Property Subtype
Drug Store
Building Size
14,560 SF
Building Class
C
Year Built
1982
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
2.43 AC
Zoning
B2

ABOUT 9 LANDIS AVE , BRIDGETON, NJ 08302

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer the fee simple interest in this Walgreen’s (NYSE:WBA) located in Bridgeton, New Jersey, the seat of Cumberland County and a bedroom community of Philadelphia. The Tenant has approximately 11+ years remaining on the initial 25-year NNN lease with preferred ten, five-year option periods. The lease is guaranteed by Walgreen Corporation, now a subsidiary of Walgreens Boots Alliance Inc. after the company’s merger in 2014. Walgreens Boots Alliance, Inc. is investment grade, rated “BBB” by Standard & Poor’s. The Property is well positioned at the intersection of Route 56 (Landis Avenue) and Route 77 in the middle of the town’s retail node known as Carll’s Corner. Walgreens operates in a 14,560-square-foot store with drive-thru upon a highly visible and highly accessible “island” pad with three means of access. The pad, an oversized 2.4-acres, provides excellent redevelopment potential long-term and is larger than most drug store parcels. This location benefits from strong local traffic, nearly 23,000 vehicles per day, as in addition to retail density Route 56 serves as a connector between Bridgeton and Vineland. This region is an easy one hour commute to Center City Philadelphia, Cherry Hill/Marlton which are centers of employment. Walgreens is positioned on the opposing corner from Upper Deerfield Plaza, 110,728 square-feet anchored by Aldi and Dollar Tree, and Carll’s Corner, 129,582 square-feet anchored by a strong performing Peebles and Rite Aid. The Property is also immediately across Route 77 from Wawa, a preferred pharmacy co-tenant, and proximate to ShopRite and Walmart Supercenter. Located 40 miles southeast of Philadelphia, Bridgeton is a dense submarket that serves as the seat of Cumberland County. Presently, there are 24,545 and 44,574 people within three and five miles of the Property, both which have increased by 10 percent since 2000. Bridgeton is a diverse community that combines small town charm and low cost of living with easy accessibility to Philadelphia, New York and Baltimore, as well as the beach towns along the New Jersey shore.

PROPERTY TAXES

  • Listing ID: 15353231

  • Date on Market: 3/5/2019

  • Last Updated:

  • Address: 9 Landis Ave, Bridgeton, NJ 08302