Avison Young is pleased to offer 703 Van Rossum Avenue (the “Property”) for sale to qualified investors. Located in Beverly, New Jersey, the Property consists of 40,800 square feet on 4.37 acres. The building is 91% occupied by nine tenants. With a weighted average lease term of just 2.17 years, and in-place rents less than half of market, 703 Van Rossum Avenue presents a significant value-add opportunity through increasing rents to market. • 703 Van Rossum Avenue is zoned LI - Light Industrial District, which allows for a variety of uses that can further enhance the income stream at the Property. There are currently 10 industrial suites, two fenced, secure industrial storage lots, and 70 storage containers at the Property. The land housing the storage containers can easily be converted to another fenced, secure storage lot that will generate more revenue than currently realized. • The in-place weighted average rental rate at 703 Van Rossum Avenue is $6.53 per square foot modified gross (which equates to $4.01 psf NNN with 2023 expenses of $2.52 psf), while the market rental rate stands at $9.00 per square foot net. This offers the ability to raise rents significantly and increase reimbursements over the short remaining average lease term.