Holliday Fenoglio Fowler, L.P. (HFF) is marketing a 135,090-square-foot, grocery-anchored retail center in Monroe Township, New Jersey. Currently 95% leased, Concordia Shopping Center includes a stable tenant roster that boasts an average tenure of more than 27 years. Stop & Shop occupies 48% of the center at 65,572 square feet and has been at the property since 1985, and the remaining tenant mix includes UPS, Hair Crafters, LIM Martial Arts, Dubin Orthodontics, Monroe Wine & Spirits, Monroe Eye Care, Mrs. Kumar’s Indian Cuisine, Verizon by Wells Fargo, Northfield Bank and BP, among others.
Concordia Shopping Center comprises 48,517 square feet of inline space with 8,456 square feet of pad sites and a two-story office building totaling 12,545 square feet all housed on 14.4 acres at 1600 Perrineville Road. The retail center for sale’s location in Monroe Township offers a limited amount of competition in the trade area, as the closest grocery store is more than five miles away, and the three-mile radius boasts an average household income of $106,052. Monroe Township is known as a popular location for retirees and a growing residential community.
According to the township’s planning and approval board, there are currently more than 6,000 houses that have been approved for future development. In order to support the residential growth, Monroe Township has expanded its school system, which now consists of six elementary schools, a middle school and a new high school constructed in 2015 that doubled in size. The National Council for Home Safety and Security named Monroe Township the 29th safest city in the United States.
To learn more about this retail listing for sale or other commercial real estate listing in the Mid-Atlantic, please contact Chris Munley in HFF’s Philadelphia office or Jose Cruz or Steve Simonelli in HFF's New Jersey office. To view this retail property for sale’s listing page, where you may download a CA agreement to receive more detailed materials, please click here.
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