Schedule a Video Call

Washington Square Town Center - 247 Hurffville - Cross Keys Road, Sewell, NJ

Property Details

  • Price :

  • Square Feet :

  • Cap Rate :

  • $13,750,000

  • 30,000

  • 6.03%

  • NOI :

  • Acres :

  • $829,399

  • 3.84

  • Property Type :

  • Property Status :

  • Retail

  • Available

Investment Highlights

  • Washington Square Retail (WSR) is a new construction 30,000 SF medical/retail mixed-use asset comprised of three (3) state of the art buildings ideally located with tremendous visibility within a master planned mixed-use development named "Washington Square Town Center" 
  • Washington Square Town Center contains 330 Class A residential apartments, 100 townhomes, a senior living facility, and a 40,000 SF medical office building (Rothman Orthopaedics)
  • PILOT program in place with Municipality for an additional 23 years, limiting real estate taxes to 12% of base rent.  This translates to approximately ½ of ad valorem taxes for similar properties in the Township, thus allowing for higher base rents.  This program provides certainty to both Landlord and tenant, and cannot change by municipal assessment.
  • WSR is comprised of eight (8) tenants on NNN leases all with structured annual rent increases (72% Medical / 28% Retail) - weighted average lease term (WALT) of 8.43 years remaining
  • Anchored by Axia Women's Health, who occupies 10,000 SF in their own freestanding building and just under 12 years of lease term remaining
  • Axia Women's Health offers over 150 locations nationwide and over 400 healthcare providers
  • Wills Eye (Mid-Atlantic Retina) is a second anchor tenant with 17+ locations and has been in business over 50 years
  • Located approximately 1.5 miles to Jefferson Washington Hospital (240 beds)
  • A mix of service-based retail including Strive Physical Therapy, Bison Coffee, Santucci's Italian Restaurant, Pet Check, and Lavish Spa & Nails
  • Easy access to several State Highways including the Atlantic City Expressway, Routes 55, 47, 322, and the NJ Turnpike
  • Many nearby national retailers including Walmart, Lowe's, Target, Starbucks, Wawa, Dunkin' Donuts, The Home Depot, Marshalls, Petco, and Aldi
  • Excellent demographics with over 152,000 people within a 5-mile radius and an average annual household income over $128,000 within 1 mile

Subscribe to Our Distribution List