451 Martin Truex Jr Blvd
Manahawkin, NJ 08050
Aldi | 10% Rental Increases Every Five Years · Retail Property For Sale

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer the NNN ground leased interest in this newer Aldi grocery store in Manahawkin, New Jersey. The Tenant, Aldi, has more than 18 years remaining on an initial 20-year term lease with 10 percent rental increases every five years. The offering features a 17,825 square-foot rectangular masonry box and is paying a current rental rate of approximately $9 per-square-foot. Investors should have immense comfort that this is a replaceable rental rate if the tenant is ever to vacate. Founded in Germany, Aldi is one of the world’s largest privately owned companies and a leading global dis¬count supermarket chain with over 10,000 stores in 180 countries. While privately owned, the company is assumed to be investment quality credit. Aldi US opened its first store in 1976 and currently has more than 1,600 stores across 35 states, and employs over 24,000 people. Over the past decade, Aldi US has nearly doubled in size and aims to bring the total number of US stores to 2,000 by 2018, opening 650 new locations including stores in Southern California. The Subject Property is exceptionally well-located along Route 72, a highly dense regional retail corridor with convenient access one-half-mile off its interchange with the Garden State Parkway. As one of the area’s primary retail corridors, Route 72 is heavily traveled with nearly 45,650 vehicles per day, and with its proximity to the Garden State Parkway this corridor draws from a wide trade radius. The Garden State Parkway runs along the coastline of the state, and stretches the length of New Jersey from the New York line to its southernmost tip in Cape May. This site has exceptional retail synergies. The Tenant is surrounded by several notable junior and big box retailers. To the immediate rear of the store is a BJ’s Wholesale Club that opened in 2008 and is rumored to have exceptional sales volumes. A shopper can visit BJ’s for their bulk purchases and pick up non-bulk grocery items (at a discount) from this Aldi location without leaving the parking lot. The property is positioned adjacent to The Commons at Manahawkin Village, a 652,702 square-foot center anchored by TJ Maxx & Home Goods and Regal Cinemas, and in close proximity to Walmart, Lowe’s Home Improvement Center, Costco Wholesale Club and countless national retailers. In addition, this property benefits from new residential development in the surrounding trade radius. As such, the five-mile population density is estimated to increase by more than seven percent in the next five years.