Store with a well-known retail chain tenant and a long-term lease agreement.
Detached one-story building with a total area of 470 m².
There is parking for 6 cars.
The store building was constructed in 2019.
The tenant is a well-known American chain of auto stores with more than 600 stores.
The lease agreement is valid for 20 years, starting from February 12, 2019.
The rental rate is scheduled to increase by 2% annually throughout the base term of the lease, starting from June 1, 2020.
Agreement type: Double Net Lease.
The property is located in the state of New Jersey, Morris County, in a city with a population of about 20 thousand people. The property is surrounded by residential buildings.
New York City (Manhattan) is about 50 km away.
New Jersey is a state in the Mid-Atlantic region of the Northeastern United States. It is a peninsula, bordered on the north and east by the state of New York. New Jersey is the 11th-most populous state, with 9 million residents, the most densely populated of the 50 U. S. states and third-wealthiest state by median household income. The territory of the state belongs to the urban agglomerations of New York and Philadelphia.