5-7 HOWARD BOULEVARD
LEDGEWOOD, NEW JERSEY
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Please be advised that bids for 5-7 Howard Boulevard are due Wednesday, June 7, 2023 via email to the undersigned.
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As exclusive agent, Cushman & Wakefield is pleased to offer a 100% fee interest in 5-7 Howard Blvd for sale. Located in Ledgewood, New Jersey, which is apart of the greater Roxbury Township, the +/-10.21 acre site is improved with approximately 4.1 acres of paved and gravel yard as well as three buildings currently used as a garden center, however, the tenant is on a month-to-month, with a 60 day termination notice. 5-7 Howard Blvd is zoned I-3 Limited Industrial District, permitting bulk storage of materials, warehouses, mini-warehousing and self-storage as of right. 5-7 Howard Blvd is ideally positioned for regional service providers as well as low coverage and light industrial occupiers given its configuration, existing improvements, zoning and proximity to Exit 30 of I-80.
Situated between Interstate 80 and Route 46, 5-7 Howard Blvd offers momentary access to the region’s major highway infrastructure in all cardinal directions, including Route 206, Route 10, and Route 15. The Site is within a 60 minute drive of 6.3 million consumers. Average household income and average home values within a 10-mile radius are $166,057 and $490,237 respectively.
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Desirable Morris County Outdoor Storage / Light Industrial Redevelopment Opportunity
• Rare industrial zoning permitting a wide range of uses including bulk outdoor storage and light industrial use
• Existing 4.1 acre paved and gravel area
• Ideally configured for regional service providers, low coverage occupiers or light industrial use
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Core Location + Access
• Less than two miles to Exit 30 of I-80, Route 46, Route 206, Route 10, and Route 15
• 3.1 MM / 6.3 MM / 17.8 MM consumers within a 45, 60, and 90 minute drive, respectively
• Exceptional demographics $166,057 average household income and $490,237 average home value, both within a 10 mile radius
• Close proximity to the Tri-State areas highly skilled labor, affluent bedroom communities and major roadways
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Surging Morris County Market Rents and User Demand
• 101% warehouse rental rate growth since 2017; 15% average annual increase
• 9 MSF of leasing activity since 2017; 2022 was the second most active year behind 2020, with 1.7 MSF leased
• Very limited supply of properties with bulk storage zoning
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SITE SIZE
±10.21 Acres (Approximately 4.1 acres usable)
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BLOCK / LOTS
6601 / 33.01
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ZONING
Limited Industrial District
(1-3)
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PERMITTED USES
Lumber yard; Wholesale building material supply yard; Bulk storage of materials & equipment; Warehouses including mini-warehousing / self storage; Manufacturing, fabrication, assembly and processing operations (I-1), Business and professional offices (I-1), Research and engineering offices and labs (I-1)
All permitted uses allowed in I-1 Limited Industrial District
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GARY GABRIEL
Executive Vice Chairman
+ 1 201 460 3352
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DAVID W. BERNHAUT
Executive Vice Chairman
+ 1 201 460 3356
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KYLE B. SCHMIDT
Executive Managing Director
+1 201 508 5266
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PETER WELCH
Financial Analyst
+1 201 508 5267
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JOHN ALASCIO
Vice Chairman
+1 212 841 9238
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CHUCK KOHAUT
Senior Director
+1 201 508 5219
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TJ SULLIVAN
Senior Director
+1 212 841 7977
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Cushman & Wakefield, LLC | Capital Markets
One Meadowlands Plaza, 7th Floor, East Rutherford, NJ
+1 201 935 4000
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© 2023 Cushman & Wakefield. All rights reserved. The information contained in this communication is confidential, may be privileged and is intended for the exclusive use of the above named addressee(s). If you are not the intended recipient(s), you are expressly prohibited from copying, distributing, disseminating, or in any other way using any information contained within this communication. This information has been obtained from sources believed to be reliable but has not been verified. NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE CONDITION OF THE PROPERTY (OR PROPERTIES) REFERENCED HEREIN OR AS TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED HEREIN, AND SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, WITHDRAWAL WITHOUT NOTICE, AND TO ANY SPECIAL LISTING CONDITIONS IMPOSED BY THE PROPERTY OWNER(S). ANY PROJECTIONS, OPINIONS OR ESTIMATES ARE SUBJECT TO UNCERTAINTY AND DO NOT SIGNIFY CURRENT OR FUTURE PROPERTY PERFORMANCE. This e-mail may be considered advertising under federal law. |
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