EXP Realty Advisors exclusively presents for sale this single tenant net leased investment opportunity consisting of a 18,178 sf building leased to The Tile Shop (NASDAQ: TTS) located on 2.31 acres. This is a new 15 year lease with a 9.5% escalation in year 6 and a 10% escalation in year 11. The Tile Shop just completed a full renovation of the building including new storefronts and interior work. The tenant is responsible for all property expenses except roof and structure. The property is located on Route 10, a major corridor through northern New Jersey that is lined with retail and shopping districts in Edgewood and East Hanover/Livingston. The property is accessible from both directions on RT-10 with excellent visibility and an average daily traffic count of 40,546 vehicles per day. The property is one-half mile west of the Livingston Circle at the intersection of Route 10 and Okner Parkway near highways 609 and 508. Retailers within the area include an AMC movie theater, Toys R Us, Office Depot, BoConcept, Old Navy, Best Buy, Home Depot, Costco, & Target. Additional retailers include AT&T, Daffy's, Burger King, Chipotle, TGI Friday's, McDonald's, and Boston Market The building depth is shallow and was constructed to accommodate a conversion to multi-tenant use. The detention pond in front of this building can be piped to accommodate an expansion of the parking lot, and the building can be expanded by approximately 3,000 to 5,000 sf.
Livingston is an affluent New Jersey suburb, located in Essex County, 20 miles from the Lincoln Tunnel entrance to Manhattan. Essex County is the 3rd most populous county in New Jersey. Livingston is noted for its strong public school system. - Tenancy: Single Tenant
|10 Gb/s: Level 3 Communications, LLC|
|10 Gb/s: LIGHTPATH|
|25 Mb/s: Verizon|
|100 Mb/s: Comcast|
|6 Mb/s: MegaPath Corporation|
|3 Mb/s: NetCarrier Telecom, Inc.|