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6 Spring Valley Road Paramus, Nj Executive Summary

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6 Spring Valley Road Paramus, Nj Executive Summary CONFIDENTIAL OFFERING MEMORANDUM 6 SPRING VALLEY ROAD PARAMUS, NJ EXECUTIVE SUMMARY As exclusive agent, Cushman & Wakefield is pleased to offer a 100% fee interest in 6 Spring Valley Rd. “the Site” for sale in Paramus, New Jersey. This offering represents the unique opportunity to acquire a rare corner-lot commercial site located along the highly traveled Route 4 at the heart of the distinguished Paramus retail corridor. The 0.64-acre site is located in front of the Bergen Town 4 Center and ideally situated along Route 4, less than 1.0 mile from the iconic Garden State Plaza, New Jersey’s largest regional mall and one of the highest producing malls in the country. The Site is improved with an existing 2-story 6,972 square foot hair salon with 63 asphalt-paved surface parking spaces. Located only 11 miles from New York City, Paramus’ retail corridor is one of the most upscale and highest grossing corridors in the country. 2 CUSHMAN & WAKEFIELD OUTLETS AT BERGEN TOWN CENTER 6 SPRING VALLEY ROAD 4 Premier Redevelopment Opportunity 6 SPRING VALLEY ROAD | PARAMUS, NJ 3 INVESTMENT HIGHLIGHTS Exceptional Prime Location Unparalleled Redevelopment & Coveted Zip Code Demographics Opportunity • Located at the heart of prestigious • Population of 560,485 or 7,137.4 Bergen County, surrounded by some persons per square mile within a • Frontage along the highly traveled of the most affluent communities in 5-mile radius of the Site Route 4 (ADT of ±100,000 vehicles) New Jersey • Paramus has an average household • 0.64 acres in the center of New • Prime location along Northern New income of $163,361 and an average Jersey’s highest grossing retail area Jersey’s premier retail corridor, home value of $652,550 • Rare corner lot provides high visibility home to the Garden State Plaza by passing traffic and Paramus Park Mall, two thriving regional malls less than one mile from the Site DOBBS FERRY WYCKOFF OLD TAPPAN NEW JERSEYROCKLAND • Paramus zip code is the highest £¤9 grossing in the country, withHILLSDALE over $3.7 HASTINGS-ON- billion in retail sales per year, despite NORWOOD HUDSON UV208 G110 WESTWOOD Blue Laws restrictingGARDEN STATE PKWY non-necessityG RIDGEWOODretail shopping on Sundays G110 G39 87 £¤9W GLEN ROCK WESTCHESTER HAWTHORNE 17 BERGEN GLENWOOD HALEDON 9A FAIR LAWN UV 6 SPRING BERGENFIELD VALLEY RIVER EDGE YONKERS 4 ROAD TENAFLY NEW MILFORD PASSAIC PATERSON PARAMUS NEW YORK 80 SADDLE BROOK 4 TEANECK WOODLAND PARK ENGLEWOOD 80 HACKENSACK GARFIELD LODI 4 G509 80 PALISADES INTERSTATE PKWY £¤46 CLIFTON INWOOD HASBROUCK HEIGHTS PASSAIC £¤46 RIDGEFIELD PARK BRONX LITTLE FERRY Hudson River FORT LEE TETERBORO AIRPORT UV3 RIDGEFIELD CUSHMAN & WAKEFIELD r 4 D r RUTHERFORD e v i MELROSE R EAST RUTHERFORD NUTLEY m 21 e l UV r a 95 H FAIRVIEW HUNTS POINT LYNDHURST ESSEX HARLEM East River BELLEVILLE NORTH BERGEN £¤1 NEW YORK BLOOMFIELD WEST NEW YORK CITY SECAUCUS FDR DR N HUDSON FDR DR S 95 ARLINGTON QUEENS UNION CITY LAGUARDIA AIRPORT UV7 SPRING VALLEY RD 4 6 Spring Valley Rd 4 S SPRING VALLEY RD SITE DETAILS REAL ESTATE TAXES Address: 6 Spring Valley Rd., Paramus, NJ 07652 Land Assessment (2021): $960,000 Improvements: 2-story, 6,962 SF Hair Salon, (1st fl.- Improvements Assessment (2021): $1,540,000 5,542 sf, 2nd fl.1,420 sf) 63 parking Total Assessment (2021): $2,500,000 spaces 2020 Tax Rate: $1.595 per $100 of 0.64 acres / 27,878 SF Site Size: assessed value Frontage: 245’ along Route 4; 235’ along 2021 Taxes: $39,875 Spring Valley Rd. Zoning: HCC – Highway Corridor Commercial Permitted Uses: Retail, commercial, office, etc. Utilities: All municipal utilities are available and connected Financing: To be sold free and clear 6 SPRING VALLEY ROAD | PARAMUS, NJ 5 SUSSEX PASSAIC Garden State Plaza BERGEN WARREN MORRIS ESSEX HUDSON UNION HUNTERDON SOMERSET MIDDLESEX LOCATION & MERCER DEMOGRAPHICS MONMOUTH PRESTIGIOUS BERGEN COUNTY Bergen County is situated in the northeastern (100+ employees) in Bergen County, with due, in part, to the county’s highly educated section of New Jersey and consists of 70 the majority specializing in pharmaceuticals, workforce with over 51.3% holding a municipalities including Paramus, Franklin telecommunications, high technology and Bachelor’s Degree or higher. Lakes, Alpine, Teterboro, Ho-Ho-Kus, Saddle financial services. The county is bounded The county’s municipalities vary from River, Upper Saddle River, Hackensack and to the north by New York State, to the suburban bedroom communities with single- Tenafly, amongst others. The county is one south by Hudson & Essex Counties, to the family homes lining tree-shaded streets, to of the most affluent in the nation with an east by the Hudson River, and to the west exclusive communities with multiple family average household income of $144,137, as by Passaic County. The favorable location dwellings such as Fort Lee and Edgewater, well as the most populous in the state with within the New York City metropolitan with luxury high-rise residential towers over 943,958 residents. Bergen County is area – approximately equidistant between overlooking the banks of the Hudson located directly across the Hudson River Washington D.C. and Boston – provides River. The county is home to four regional from New York City, 25 minutes north convenient access to an excellent network shopping malls, including the state’s largest, of Newark International Airport and 90 of north-south highways, including I-95, I-87, the Westfield Garden State Plaza. minutes from Philadelphia, which makes it I-287 and the Garden State Parkway. This an attractive location for businesses and regional highway system also offers access Bergen County’s healthy economy reflects residents alike. to a large labor pool in nearby Orange and the strong demand for retail in the area Rockland Counties in New York. and the employment environment is one Bergen County is known for its high of the strongest in the state, with a current quality of life, well-educated labor force, Bergen County is attractive as it provides a unemployment rate of 13.5%, 160 basis points retail and entertainment destinations, convenient commute to New York City and below New Jersey’s overall unemployment and concentration of major corporate the many employment centers throughout rate of 15.1%. headquarters. 14 Fortune 500 companies New Jersey for its residents, 74% of whom are headquartered or have major facilities are employed in white collar jobs. This is 6 CUSHMAN & WAKEFIELD 4 6 SPRING VALLEY ROAD 4 MAJOR BERGEN COUNTY EMPLOYERS Company Municipality Employment Hackensack University Medical Center Hackensack 8,000 Valley Health Systems, Inc. Ridgewood 4,660 Bio-Reference Laboratories, Inc. Elmwood Park 2,900 Express Scripts Franklin Lakes 2,800 County of Bergen Hackensack 2,390 Quest Diagnostics, Inc. Teterboro, Lyndhurst 2,200 KPMG LLP Montvale 2,100 Englewood Hospital & Medical Center Englewood 2,002 Englewood Hospital Home Health Care Englewood 1,985 Services Unilever Best Foods Englewood Cliffs 1,900 Stryker Allendale, Mahwah 1,812 Bergen Regional Medical Center Paramus 1,746 Holy Name Hospital Teaneck 1,695 Becton Dickinson and Co. Franklin Lakes 1,500 Crestron Electronics, Inc. Rockleigh 1,500 6 SPRING VALLEY ROAD | PARAMUS, NJ 7 Paramus 17 Park 17 4 144 W. RT 4 6 SPRING VALLEY ROAD 4 Garden The Outlets at State Bergen Town Plaza Center 8 CUSHMAN & WAKEFIELD PARAMUS The Site’s Paramus zip code positions it in the shopping landmark. Originally opened in the largest retail market in New Jersey, a result of 1950s as an open air mall, the Garden State Plaza its dense and affluent surrounding population. has grown into a 2.2 MSF super regional mall and Paramus can be accessed via Routes 17 and 4, the draws shoppers from all over the tri-state area. Garden State Parkway, and is just north of I-80 and The Paramus Park Mall and the recently renovated the New Jersey Turnpike/I-95. The township has a Bergen Town Center also offer numerous shopping population density of 2,591 persons per square mile alternatives. and an average household income of $163,361, 37% The Site is situated in one of the most desirable higher than the New Jersey average. Paramus is the locations in Paramus, situated along Route 4, less highest grossing retail zip code in the country, with than 1.0 miles from the Garden State Plaza. With nearly $3.7 billion in retail sales per year. high visibility along Route 4 and due to its corner Major draws to Paramus include the Garden State lot location, the Site draws much attention from a Plaza, which is Northern New Jersey’s most famous wide trade area. DEMOGRAPHIC S 1 Mile 3 Mile 5 Mile Radius Radius Radius Paramus New Jersey Population 2020 Estimated Population 12,444 170,566 560,485 27,068 9,100,978 2020 Population Density (PSM) 3,964.2 6,033.9 7,137.4 2,591.5 1,237.5 Income 2020 Average Household Income $144,460 $124,807 $116,507 $163,361 $119,052 %: $100,000 - $149,999 20.3% 19.0% 18.0% 17.8% 17.7% %: $150,000+ 37.9% 28.2% 24.8% 42.5% 25.1% The Outlets at Employment Bergen Town Center Blue Collar 12.1% 14.8% 20.2% 10.4% 17.6% White Collar 75.1% 72.0% 65.4% 78.6% 67.8% Education %: Bachelor's Degree 30.1% 30.0% 25.4% 33.1% 25.3% %: Post-Secondary Degree 18.5% 17.4% 14.8% 18.9% 16.4% 6 SPRING VALLEY ROAD | PARAMUS, NJ 9 DOBBS FERRY WYCKOFF OLD TAPPAN NEW JERSEYROCKLAND £¤9 HILLSDALE MAJOR ROADWAYS HASTINGS-ON- NORWOOD HUDSON UV208 G110 WESTWOOD GARDEN STATE PKWY G 4 Route 4 – (Site is located along) is a state highway in Bergen and Passaic Counties that stretches nearly 11 miles from Route 20 in Paterson to an RIDGEWOOD interchange with Interstate 95, U.S.
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