February 22, 2023 – Michael Lombardi of Horvath & Tremblay has successfully completed the sale of QuickChek in Somerset, New Jersey. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $7,065,217.
QuickChek is located at 1850 Easton Avenue in Somerset, New Jersey. The stand-alone building consists of 5,670 square feet and sits on large 3.13-acre parcel of land. The building was constructed for QuickChek in 2021 and they have 18+ years remaining on an NNN Ground Lease with four (4), 5-Year Renewal Options. The lease features attractive 10% rent increases every five years throughout the primary lease term and at the start of each of the 5-year renewal options. QuickChek is situated along Easton Avenue just seconds from Interstate 287’s on-off ramp. The newer construction Property benefits from outstanding frontage and visibility in one of the area’s primary commercial corridors. The Property is surrounded by office buildings, commercial businesses, and nationally branded hotels that drive traffic to the area and just outside the commercial corridor, the area is home to densely populated residential neighborhoods that provide a built-in customer base.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.