As exclusive agent, Cushman and Wakefield, Inc. is pleased to offer the Summit Collection (the “Portfolio” or “Properties”) for sale. This premier set of boutique buildings represents a generational opportunity to acquire 47,086 SF of mixed-use inventory in one of NJ’s most prestigious walkable transit villages. The Portfolio is located in the heart of Downtown Summit within walking distance to NJ-Transit’s Summit Train Station and situated on nearly 150’ft. of prime frontage along Springfield and Summit Avenues and consists of retail, commercial and residential space.
This “Main and Main” pedestrian-friendly location provides exceptional visibility and prominence for retailers and local businesses, and has enabled the Portfolio to achieve and maintain a 100%-leased rate. Occupied by a diverse mix of local and national tenants including West Elm, Trek Bicycle Corporation, Fleet Feet and Drybar, among others, the Collection mainly serves the high-profile local consumer base drawn from the nearby communities that come to enjoy shopping, dining and entertainment.
Summit's downtown continues to thrive and is bolstered by the affluent population and surrounding communities characterized by some of the highest average household incomes in the U.S. (nearly $200,000 within Summit), along with home prices that exceed $1MM on average.
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Downtown Summit, NJ
Top-Rated, Walkable Transit Village
• Named “Best Places to Live” in NJ
• NJ-Transit Summit Station (Direct NYC Access: 45+/- Minutes to Penn Station)
• Excellent Schools, Top Residential Market & Convenient NYC Commute
• Abundant Parking Options: 6 Hourly Lots, 3 Commuter Lots, 4 Permit Lots
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Proven Location for Lifestyle Retail &
High-End Consumers
• West Elm - Top 5 Rated Location in U.S. (Placerai)
• Other National Brands Within the Portfolio Include Trek Bicycle Corp, DUXIANA & Drybar
• Summit is Home to Serena & Lily, Blue Mercury, Starbucks, Roots Steakhouse, Lululemon, among other national brands
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“Wealth-Belt”
Surrounded by NJ’s Elite Affluence
• Avg. HH Income: $223,544 / Avg. Home Price: $1.13MM
• Major Concentration of Wealth Nearby (Short Hills, Chatham & Madison)
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PARKING ACCESS
Access to 939 public spaces in Summit’s 6 hourly-parking lots and on-street meters within a five minute walk of the portfolio.
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DAVID W. BERNHAUT
Executive Vice Chairman
+ 1 201 460 3356
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H. GARY GABRIEL
Executive Vice Chairman
+1 201 460 3352
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BRIAN J. WHITMER
Vice Chairman
+ 1 201 508 5209
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FRANK A. DITOMMASO II
Managing Director
+1 201 508 5303
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MAX C. HELFMAN
Financial Analyst
+1 201 508 5269
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MAIA SIRABIAN
Financial Analyst
+1 201 460 3346
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ANDREW SCHWARTZ
Managing Director
+1 973 292 4624
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JORDAN SOBEL
Director
+1 973 292 4633
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ANDRE BALTHAZARD
Senior Associate
+1 732 360 6249
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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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