Atlantic Capital Partners has been exclusively engaged to solicit
offers for the sale of Red Robin located in Vineland, New Jersey.
This 4,400 SF asset sits as an outparcel to the Cumberland Mall
(6.1M visits in the last 12 months (placer.ai) which puts it in
the top 88% in all of NJ) and has been 100% occupied by Red
Robin since 2015. The subject property benefits from signage
and visibility along Rt 47 (S Delsea Drive), a major regional
retail market servicing a rapidly growing and affluent South
Jersey submarket.
Red Robin executed a long-term 15-year ground lease in 2015
which includes 10% rent escalations throughout the initial term
and at the beginning of each option period. Red Robin currently
pays $132,000 with the next escalation in September 2025,
bringing the NOI to $145,200 and boosting near term investor
returns. The lease also calls for three (3), five (5) year options.
This offering presents an excellent opportunity to acquire
a stable, completely passive investment with a nationally
recognized tenant in a thriving retail corridor.