1364 State Route 23
Wayne, NJ 07470
Retail Property For Sale

QuickChek - 25 Year NNN Ground-Lease w/ 10% bumps Marcus & Millichap is pleased to present this 4,700 square foot QuickChek convenience store and gas station in Wayne, New Jersey. Located approximately 40 minutes northwest of New York City, this newly constructed asset is set to open in Early 2017. QuickChek signed a 25 year ground lease with 10 percent escalations in rent every five years. There are five, five-year renewal options, also featuring escalations in rent. The lease is backed by a corporate guaranty from QuickChek Corporation, a privately-owned company with 140 retail locations throughout New Jersey, New York' s Hudson Valley and Long Island. This newly constructed asset is located on the highly trafficked State Route 23, which sees over 78,000 vehicles per day. Route 23 is the main road in Wayne and connects to Interstates 80 and 287. Additionally, QuickChek will benefit from traffic heading to/from Willowbrook Mall. The mall has over 200 retail establishments and a gross leasable area of 1,514,000 square feet, and is the fourth largest shopping mall in New Jersey. The mall' s main stores include Bloomingdale' s, Lord & Taylor, Macy' s and Sears. Other major tenants in the vicinity include Kohl' s, Foodtown, Staples, Michael' s, Starbucks, Dunkin' Donuts, 7-Eleven, Taco Bell, and many more. QuickChek is in close proximity to Packanack Lake. Packanack is a thriving suburban community with two beaches and an active lifestyle of approximately 1,500 homes. Packanack Lake Country Club and Community Association offers swimming, golf, tennis, fishing, boating, youth and adult sports as well as many special interest clubs. The five mile radius surrounding the asset features strong demographics. There are more than 203,000 residents with an average household income of over $109,000.