yardville / nj - loopnet
TRANSCRIPT
DOVER PARK PLAZAYARDVILLE / NJINVESTMENT SUMMARY
DOVER PARK PLAZA2
Hogb
ack
Road
Stuyvesant Avenue
Walters Road
Bresnahan Road
Tindall Road
Woods R oad
Walnford Road
S Broad Street
Whit
e Ho
rse
Ave
Kuser Rd
Ward Ave
Crosswicks Rd
Hogb
ack
Road
Stuyvesant Avenue
Walters Road
Bresnahan Road
Tindall Road
Woods R oad
Walnford Road
S Broad Street
Whit
e Ho
rse
Ave
Kuser Rd
Ward Ave
Crosswicks Rd
NE WJ E R S E Y
Bucks County
Mercer County
MonmouthCounty
BurlingtonCounty
PE NNSYLVANIA
NE WJ E RS E Y
29
33
29
1 206
206130
130
130
206
1
295
295
295
195
195
195
Bordentown
Fieldsboro
Morrisville
Allentown
Tullytown
Trenton
EXECUTIVE SUMMARYWarehouse
The Shoppes at Hamilton
DOVER PARK PLAZA
Ownership has retained Cushman & Wakefield as its exclusive agent to market for sale a 100% fee interest of Dover Park Plaza, a 56,751 square foot neighborhood shopping center located in the established and affluent community of Yardville, NJ. Anchored by CVS and Dollar Tree, Dover Park Plaza boasts a strong roster of necessity and service-oriented tenants while catering to the nearby captive residential shopping base.
Strategically situated near the crossroads of the NJ Turnpike, I-295, and I-195, the surrounding communities benefit from a highly desirable transportation network that allows nearby employers to attract talent from throughout the region. Amazon operates a fulfillment center in Robbinsville, just six miles from the Property, and recently announced the hiring of 1,800 additional employees. The area is also home to Robert Wood John Hospital System, Princeton University, Rider University, and The College of New Jersey.
Originally developed in 1971, The Property provides potential Investors with a highly financeable, necessity driven neighborhood shopping center that has long served as a shopping destination in the local community.
Investment Summary
Address: 1-23 Sunnybrae BoulevardYardville, NJ 08620
MSA: Trenton, New Jersey
Rentable Area: 56,751 SF
Anchors: CVS, Dollar Tree
Current Occupancy: 88%
Year 1 NOI: $744,166
Year Built: 1971
Financing: Free & clear, C&W’s debt team has underwritten the asset and received indicative terms from multiple lender types
Offering Website: www.doverparkplaza.com
INVESTMENT SUMMARY 3
ATM
SUNNYBRAE BLVD
KIM VALLEY RD
RTE
524
/S B
RO
AD
ST
Switlik Park
DOVER PARK PLAZA4
INVESTMENT HIGHLIGHTS
NECESSITY & SERVICE BASED TENANT ROSTER WITH STRONG ANCHOR CREDIT• Anchored by CVS and Dollar Tree, which make up 40% of the gross revenue and have an average remaining lease term of more than six years• The Property is complimented by a diverse, service oriented inline tenant roster, which includes a dry cleaner, nail salon, and multiple food service concepts
UPSIDE THROUGH LEASE-UP OF EXISTING VACANCY • Immediate value creation opportunity through the lease-up of the existing 8,083 SF of vacancy
STRONG DEMOGRAPHICS & STRATEGIC NEIGHBORHOOD LOCATION • The Property caters to the affluent captive residential shopping base surround Dover Park Plaza, with residents within one mile boasting an Average Household
Income of more than $98,000• Nearby access to key regional thoroughfares I-295 and I-195, which enables ease of access to nearby employment centers including a new Amazon fulfillment
center less than six miles away
MAJOR TENANT SUMMARY
Tenant SF Expiration Rent PSF % of GLA
CVS 12,000 1/33 $14.90 21.1%
Dollar Tree Stores 10,433 9/39 $12.00 18.4%
FINANCIAL SUMMARY
Pro Forma Year 1 Year 3 Year 5
For the Years Ending Dec-18 Dec-20 Dec-22
Effective Gross Revenue $1,115,861 $1,247,903 $1,285,501
Total Expenses $371,695 $395,194 $418,108
Net Operating Income $744,166 $852,709 $867,393
INVESTMENT SUMMARY 5
Karen ImanSenior Director+1 215 963 [email protected]
Brian WhitmerExecutive Director+1 215 963 [email protected]
Seth PollackDirector+1 201 508 [email protected]
Robert NationAssociate Director+1 215 963 [email protected]
Katherine SchaadSenior Brokerage Coordinator+1 215 963 [email protected]
One Liberty Place1650 Market Street, 33rd FloorPhiladelphia, PA 19130
cushmanwakefield.com
One Meadowlands PlazaSuite 700East Rutherford, NJ 07073