129 Gulph rd
King Of Prussia, PA 19406
CAVA/First Watch Strip | King of Prussia, PA · Commerce de détail Propriété À vendre

CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE this newly constructed, fully leased four-tenant retail strip center located at 129 South Gulph Road in King of Prussia, Pennsylvania. This 10,000-square-foot property sits on a 5.3-acre parcel within the Gulph Creek Promenade mixed-use development and features modern 2025 construction with NNN condo ownership. The center is fully leased to nationally recognized fast-casual tenants First Watch, CAVA, DIG, and Just Salad, offering investors a combination of corporate-backed credit and strong rental growth.
The property benefits from a prime King of Prussia location, directly across from the King of Prussia Mall and within one of the Philadelphia MSA’s most trafficked retail nodes, with daily vehicle counts exceeding 250,000 from South Gulph Road, W. Dekalb Pike, and I-76. The site is also adjacent to two new hotels, bringing additional demand from business and leisure travelers, and is surrounded by a dense retail ecosystem anchored by national brands, restaurants, and lifestyle tenants.
Leases are structured as NNN, with landlord responsibilities reimbursed by tenants, providing a predictable income stream with minimal management obligations. First Watch and CAVA operate under 10-year corporate NNN leases with rental increases of 10–15% in year 6 and at each renewal option, while DIG and Just Salad each have 10-year NNN leases with 3% annual escalations throughout the base term and option periods.
King of Prussia is one of the most coveted submarkets in Greater Philadelphia, with limited new retail development opportunities due to dense existing retail, high land costs, and strong demand. The scarcity of available space enhances long-term tenant retention and asset value, making this property a rare opportunity to acquire a new-construction, fully leased retail asset in a high-barrier market.