MSC is proud to present a single-tenant, absolute net lease Patient First, located in
Delran, New Jersey. This 7,151 square foot building, constructed in 2015, marks the
commencement of Patient First's 20-year net lease. Currently, there are 10 years remaining
on the original term, featuring a 10% rent escalation in November of this year and another
10% escalation in 2030. The lease includes 6 additional 5-year renewal options, potentially
extending the lease for the following 30 years.
The property is located on US Route-130 (50,404 VPD) in the heart of the dense and
affluent submarket of Delran, NJ. US-130 is one of the most prominent and highly
trafficked commercial corridors in the region. Running parallel to I-295, Route 130
serves as a primary route for many daily commuters and trucking companies traveling to
and from Philadelphia which is approximately 10-miles away. This area is densely populated
with over 1.5 million square feet of retail space, hosting national tenants such as Target,
Walmart, Sams Club, Shoprite, and numerous other national credit tenants. Within a three mile radius of the property, there are 58,876 residents with an average household income
of $149,852. This robust demographic profile has fueled strong demand from national
tenants along Route 130, making this market highly desirable for retailers.