Property tours are available by appointment ONLY. Please contact Michael Lombardi to schedule at mlombardi@marcusmillichap.com or 201-742-6125. Investment Highlights: ±47,752 SF retail center shadow anchored by Sam’s Club ±92% occupied with several strong long term tenants Value-add opportunity through lease-up of both the available in-line 1,800 SF and additional 2,000 SF through the demise and recapture of space from Unit C-1 Several national tenants including SkyZone, Subway and Dollar Tree Long term commitment from largest tenant, SkyZone, with 10 years remaining on initial term Investment Overview: ITC Crossing North (the “Center”), is a regional retail center located at 61 International Drive in Mt Olive, NJ 07836. The offering represents the opportunity to acquire a strong-performing shopping center with several national credit tenants, in-place income, and potential up-side through lease up of the vacant 1,800 SF and recapture of 2,000 SF from Unit C-1. The Center is shadow anchored by a Sam’s Club and is part of the larger International Trade Center “ITC” Crossing, which includes an Extended Stay America hotel, casual dining and fast food options, as well as over 370,000 SF of primarily national and big box retailers. ITC Crossing North encompasses ±6.27AC, contains several retail suites totaling ±47,752 SF and presents a value-add opportunity by leasing up the vacant unit totaling 1,800 SF. The Center is 92.04% occupied and is anchored by a Sky Zone Indoor Trampoline Park totaling ±40% of the Center. The Center also includes Subway, Dollar Tree and several other strong local tenants. Sky Zone signed a long term lease expiring 12/2026, and with 2 five year renewal options. Most of the tenants also pay their proportionate share of CAM, insurance and taxes. The Center is part of a destination retail location shadow anchored by Sam’s Club and adjacent to a power center anchored by Walmart, Lowe’s, TJ-Maxx, Bed Bath & Beyond, Babies “R” Us and PetSmart. The combination of ITC Crossing North and South creates a major consumer draw via food options including Applebee’s, Longhorn, Panera, Chili’s, Romano’s Macaroni Grill, Wendy’s, McDonald’s and Subway. This retail epicenter draws from a large region as the closest Sam’s Club is over 30 miles away and the nearest power center is 10 miles to the east ITC Crossing North is located in the Western Morris retail submarket, a portion of the Northern New Jersey retail market. Morris County is consistently ranked as one of the top 15 wealthiest counties in the country. Located in Morris County, ITC Crossing North is strategically adjacent to three major highways – Interstate 80, Route 46 and Route 206. The Center is located on International Drive South, which links Route 46 and Route 206, creating a highly traveled roadway between the two highways. The Center benefits from solid traffic counts (combined counts of ±35,000 VPD on US Hwy 46). The demographics are also very favorable to the Center’s tenancy with over 31,000 people within a 3-mile radius and average household incomes of over $104,800. This property will be auctioned on Monday, July 24 - Wednesday, July 26 . The price displayed is the starting bid amount of $1,750,000. For information and to register to bid on this property, please visit Ten-X.com.
