5700 Route 42
Turnersville, NJ 08012
At Home · Commerce de détail Propriété À vendre

Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single-tenant property leased to At Home, (the “Property”) in Turnersville, New Jersey, part of Washington Township and located just 20 miles southeast of Philadelphia. At Home sits on over 17 acres and currently operates on a NN+ lease with 10% rental increases in each of their three remaining, five year options. The Landlord has minimal responsibilities in just the structure of the building, while the Tenant is responsible for the roof, HVAC and parking lot. Additionally, At Home’s roof is under a 20-year warranty which started in 2019, creating a sense of security when it comes to lowering the future costs associated with owning the asset. The property is being offered at an attractive price of $80 PSF. The property benefits from excellent visibility along NJ-42, a major thoroughfare boasting over 79,300 VPD. Additionally, the property is seconds away from the start of the Atlantic City Expressway, which boasts 47,800 VPD and runs directly to Atlantic City. Turnersville is situated 20 miles southeast of Philadelphia and contained within the Philadelphia MSA; the 8th largest metro area in the country that is home to a population of over 6.25 million people. The 5-mile area surrounding the Property exhibits excellent demographics with a population of over 183,000 and 71,000 households. Additionally, the average household income within that same area sits at $122,000. Founded in 1979, At Home has been in business for almost 45 years. The company began as Garden Ridge Pottery and was later renamed Garden Ridge. It was not until 2014 when all of the At Home stores got their current name. In 2021, Hellman & Friedman, one of the oldest and most experienced private equity firms operating today acquired At Home to join their portfolio.
PRIME LOCATION – The property benefits from excellent visibility along NJ-42, a major thoroughfare boasting over 79,300 VPD. Additionally, the property is seconds away from the start of the Atlantic City Expressway, which boasts 47,800 VPD and runs directly to Atlantic City.
LIMITED LANDLORD RESPONSIBILITY – At Home currently operates on a NN+ lease. The Landlord has minimal responsibilities in just the structure of the building, while the Tenant is responsible for the roof, HVAC and parking lot.
NEWER ROOF – At Home’s roof is under a 20-Year Warranty which started in 2019, creating a sense of security when it comes to lowering the future costs associated with owning the asset.
PHILADELPHIA MSA – Turnersville is situated 20 miles southeast of Philadelphia and contained within the Philadelphia MSA; the 8th largest metro area in the country which is home to a population of nearly 6.25 million people.
DENSELY POPULATED, AFFLUENT AREA – The 5-mile area surrounding At Home exhibits excellent demographics with a population of over 183,000 and over 70,000 households. Additionally, the average household income within that same area sits at over $121,000.
BUSTLING RETAIL CORRIDOR – The property is surrounded by a host of nearby, national retailers along NJ-42 (79,300 VPD) such as: Target, Walmart Supercenter, Lowe’s Home Improvement, Aldi, CVS Pharmacy, Kohl’s, Ashley, Five Below, PetSmart, Esporta Fitness, Harbor Freight Tools, Sherwin-Williams, Dollar Tree, Firestone, Caliber Collision, Jiffy Lube, McDonald’s, Starbucks, Dunkin’, Chick-Fil-A, Popeyes, and Arby’s demonstrating the strength of the retail corridor.