The Hampshire Companies, a full service, private real estate investment firm, announces the sale of a 4,700-square-foot free-standing convenience store located at 354 Kinderkamack Road in Emerson, N.J. to a private buyer. The single-tenant property is fully-leased to leading New Jersey-based convenience store chain, QuickChek.
With over 149 locations, QuickChek Corporation is the premier convenience store chain in the New York City MSA employing over 4,000 people with an annual revenue of over one billion dollars. QuickChek strategically locates their stores throughout New Jersey and New York in high-traffic and high-visibility locations. The Emerson site is strategically located on an outparcel to a Super Stop & Shop and Marshalls anchored retail center. The location offers excellent frontage and visibility on Kinderkamack Road, the primary north-south thoroughfare in Emerson and one of the area’s most prominent retail corridors with over 22,000 vehicles per day passing the property.
QuickChek benefits from the upscale demographics of Bergen County, the most populous county in New Jersey with a population of 939,151 and one of the wealthiest counties in the nation, with a median household income of approximately $85,000. The store’s location in Emerson, N.J. also draws favorable demographics with a population of 91,739 and an average household income of $146,038 within a 3-mile radius.
“QuickChek has built a reputation in the New Jersey and New York markets for securing the best locations for their stores and operating them in a manner that makes them strong long-term income generating investments,” said Igor Derbaremdiker, Director of Dispositions for The Hampshire Companies. “This sale aligned with our investment strategy for the property as we recognized the high demand for well-located, stabilized convenience store retail assets in New Jersey would enable us to offer a high rate of return to our investors.”
Chris Bosworth, Executive Vice President, CBRE, represented The Hampshire Companies in the transaction.
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About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on The Hampshire Companies is available online at HampshireRE.com.
R&J Strategic Communications