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Pennington Square Shopping Center 15 State Highway 31 2,120 SF of Retail Space Available in Pennington, NJ 08534
SPACE AVAILABILITY (1)
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- SPACE
- SIZE
- CEILING
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Ceiling | Term | Rental Rate | Rent Type | |
| 1st Floor | 2,120 SF | 10’ | 3-5 Years | $30.58 CAD/SF/YR $2.55 CAD/SF/MO $64,829 CAD/YR $5,402 CAD/MO | Triple Net (NNN) |
1st Floor
Excellent opportunity in Pennington Borough! Approximately 2,120 square foot retail space available for rent. The base rent is $22 per square foot plus $9.45/sf for NNNs. Looking for long term tenants. Great Visibility/Frontage. Pennington Square is a shopping center situated on +/- 3.6 acres at the southeast corner of the intersection on New Jersey State Highway 31 and Broemel Place in Mercer County Borough of Pennington, New Jersey. Current tenants include a mix of local, individual and National Tenant businesses, many of whom have been operating for a plethora of years. Those include: Verizon, Goodwill, Regent Floors, LJ Health Spa, Jersey Meds, Pennington Pizza Grill, Cheng's Kitchen, Road Runner Dry Cleaners, Artistic Nail Salon, & Thai Restaurant, Chiropractor/Acupuncture, & more. There are +/- 90 on-site parking spaces. The space is Located on busy Route 31 with heavy traffic flow with over 20,000 vehicles per day.
- Lease rate does not include utilities, property expenses or building services
- Located in-line with other retail
- Space is in Excellent Condition
- Finished Ceilings: 10’
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
SELECT TENANTS AT PENNINGTON SQUARE SHOPPING CENTER
- Abbey Carpet
- Artistic Nail Salon
- Cheng's Kitchen
- Eastern Pedorthics
- Pennington Pizza
PROPERTY FACTS
| Total Space Available | 2,120 SF | Gross Leasable Area | 27,237 SF |
| Property Type | Retail | Year Built/Renovated | 1975/2017 |
| Property Subtype | Storefront | Parking Ratio | 4.48/1,000 SF |
| Total Space Available | 2,120 SF |
| Property Type | Retail |
| Property Subtype | Storefront |
| Gross Leasable Area | 27,237 SF |
| Year Built/Renovated | 1975/2017 |
| Parking Ratio | 4.48/1,000 SF |
ABOUT THE PROPERTY
Pennington Square is a shopping center situated on +/- 3.6 acres at the southeast corner of the intersection on New Jersey State Highway 31 and Broemel Place in Mercer County Borough of Pennington, New Jersey. Current tenants include a mix of local, individual businesses, many of whom have been operating for a plethora of years. Those include: Regent Floors, Goodwill Donation Center, LJ Health Spa, Pennington Pizza, Cheng's Kitchen, Road Runner Dry Cleaners, Artistic Nail Salon, Jersey Meds, Chiropractor/Acupuncture, & Verizon Wireless. Built in 1975, There are +/- 90 on-site parking spaces It is Located on busy Route 31 with heavy traffic flow (25,000+ VPD).
- Freeway Visibility
- Signage
- Smoke Detector
NEARBY MAJOR RETAILERS
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Pennington Square Shopping Center | 15 State Highway 31
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