10-50 International Dr S 131 480 pi² Commerce de détail Immeuble

ITC Crossing South Shopping Center is a 372,789 square foot power center located in Morris County, New Jersey. The property is anchored by a retail lineup consisting of Lowe’s, Old Navy, Bed Bath & Beyond, TJ Maxx, Michaels, Pier 1, Babies R Us, and PetSmart and shadow-anchored by Wal-Mart, which is not a part of the propert (“NAP”). Other tenants of the property include McDonald’s, Wachovia Bank, Payless Shoes, GameStop and Sprint, as well as Applebee’s, Panera Bread and Wendy’s franchises. Between 2000 and 2005, the population in the trade area increased from 147,994 to 158,200, resulting in a growth of 6.9%. Over the next five years, the population is projected to grow by 6.2%.

The property is located in Mount Olive Township in the northwest corner of New Jersey. It is located 30 miles from the state of New York and the city of Newark and is centered between State Highways 46 and 206 (west and east) at the interchanges of each along Interstate 80. Access to the property is provided from both State Highways 46 and 206 via 1.5 mile International Drive South. Interstate 80 runs east/west, connecting eastern Pennsylvania to New York and Newark, and carries an estimated 125,000 cars per day. State Highways 46 and 206 run north and south and carry traffic from both Interstate 287 and Interstate 78 northward to Interstate 80. Each road has a traffic count of over 30,000 vehicles per day.

Mount Olive is located in the northwest corner of Morris County, which currently is the seventh largest of 21 counties in New Jersey and boasts a projected 2010 population of 512,552. The current unemployment rate for Morris County is 3.1% as compared to 4.3% for the state of New Jersey and 5.1% nationwide. The caliber of employment in the area is evidenced in both the primary and secondary trade areas of the property with average annual household incomes of $119,555 and $117,091. The average annual household income is projected to increase from the current $119,555 level to $136,146 by 2010.