Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer Laurel Plaza (“The Property”), an 81,347 square foot, 100% occupied, grocery anchored shopping center located in Bridgeton, NJ. The shopping center features the dominant grocer in the county, ShopRite, in addition to a diversified tenant lineup that boasts a weighted average tenure of over 20 years. ShopRite, which is backed by a Wakefern Food Corporation lease, commenced operation in 2000 and has demonstrated their success through strong and above average sales. Additionally, 80% of the gross income is derived from ShopRite which has 15.7+ years of term remaining. Situated in a densely packed retail corridor near the signaled intersection of Route 56 and Route 77, Laurel Plaza features excellent curb appeal, visibility and access. Currently 100% occupied, the shopping center’s reliable mix of national and regional tenants such as ShopRite and H&R Block provides a steady cash flow from in-place tenants.
- DOMINANT GROCERY ANCHOR IN SOUTHERN NEW JERSEY
- ShopRite is the dominant grocery anchor in the Cumberland County. The ShopRite at Laurel Plaza has a proven track record of operational excellence, above average sales and over 15 years of remaining term with six (6) 5 year options.
- COMPLEMENTARY MERCHANDISING MIX WITH HIGH TENURE TENANCY
- 20.1+ Years Weighted Average Tenure
- 13.4+ Years Weighted Average Lease Term
- 95% of Gross Income From Tenants with 10+ Years Tenure
- PREMIER LOCATION & ACCESS WITH REGIONAL CONNECTIVITY IN A PREMIUM RETAIL CORRIDOR
- Laurel Plaza is in close proximity to a highly trafficked signalized intersection - Route 77 (14,700+ VPD) and Route 56 (13,000+ VPD). There is a four-way signalized intersection that provides ingress/egress from both North and South bound traffic on Route 55 where traffic counts exceed 40,000 vehicles per day.