Enter the "Deal room" for exclusive documents related to this property.
|Current / Passing Rent||
|Remaining Term||7 years, 3 months|
|Tenant||Walgreens Eastern Co|
JLL is pleased to offer Walgreens, a freestanding, single-tenant property located in 120 E1st Ave, Roselle, New Jersey, for sale. The location performs well above the national average, reporting over $2.84 million in sales in fiscal year 2018. This can be attributed to the outstanding location just 15 miles southwest of Manhattan at the primary retail intersection of Roselle, surrounded by a dense population base of over 228,000 residents within three miles. The property sits upon a large 1.44-acre parcel with accessibility to both First Avenue and Chestnut Street (44,000 vehicles per day combined) allowing residents from Roselle convenient access from any direction of travel.
The property is 2.5 miles from Elizabeth, New Jersey and 0.5 miles from Roselle Park train station. It is also in close proximity to CVS, McDonald’s, Wendy’s, Dunkin’ Donuts and Wells Fargo and the drive-thru location is open until 12 am every night. This offering presents the unique opportunity to acquire a stabilized, high-performing Walgreens location within the largest MSA in the United States, providing security in the value of the underlying real estate.
- Absolute NNN lease with over 7 years of term remaining
- Zero landlord responsibilities
- Ten, 5-year options for renewal
- Fee simple interest
- Investment grade credit guarantor with Walgreen Co (S&P: ‘BBB/Stable’)
- Tri-modal ingress/egress