Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2007
Building Area Gross
Occupancy 100.0 %
Call for Offers 2022-05-04

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer 4040 City Avenue, a 16,540 square foot, service-oriented in-line strip center located in Philadelphia, Pennsylvania. The 100% occupied Property offers a complimentary national tenant lineup in a premier location with regional access and connectivity within the Philadelphia submarket. Quintessential, best-in-class shadow anchor in Target drives the extended trade radius in this dense, ultra-infill location. The Property offers investors secure, long-term income with +9.4 years of weighted average lease term. Best-in-class fast casual operator Chick-fil-A recently executed a 15-year lease in a 4,440 square-foot in-line suite, underlining the desirability of the Property’s location along a highly trafficked corridor along City Avenue in a super infill location in

Philadelphia. With a population of +934,000 within a 5-mile radius, excellent transportation infrastructure and significant economic demand drivers in the immediate trade radius, 4040 City Avenue offers investors the opportunity to acquire scarce, premier real estate within the densely populated Philadelphia submarket.

Investment Highlights

Highly Synergistic, National Tenant Lineup With Extended Term

  • 78% of Property’s Gross Income From National Tenancy Including Chipotle, Chick-fil-A, Verizon, Sleep Number
  • 9.4 Years WALT
  • Recently Executed 10-Year Lease with Chick-fil-A Underlines Desirability of Property’s Positioning

Quintessential, Best-In-Class Shadow Anchor In Target Superstore

  • Dominant Shadow Anchor Located Adjacent to Property Driving Consumers from a Superregional Trade Radius
  • 7th Most Visited Target Location in State of Pennsylvania (of 70)
  • 93rd Percentile in the United States by Foot Traffic within the Target Chain

Premier In-Fill Location Within Hyperactive Philadelphia Submarket

  • 0.1 miles from access to I-76 (142,000 VPD) – the main East/West thoroughfare in Philadelphia
  • 0.2 Miles from Proposed Mixed-Use Development (+240 Multifamily Units) at Site of Former Lord & Taylor
  • 2.5 miles from Lancaster Avenue/US-30 (27,000 VPD) – the main access point to the Main Line and the greater Philadelphia Suburban area
  • Adjacent to the extremely affluent Bala Cynwyd Sub-Market across City Avenue
Last Updated Date: 22 Mar 2022

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Last Updated Date: 22 Mar 2022

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