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Offering Memorandum 1667 East Landis Avenue, Vineland, Nj Property Overview

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Offering Memorandum 1667 East Landis Avenue, Vineland, Nj Property Overview OFFERING MEMORANDUM 1667 EAST LANDIS AVENUE, VINELAND, NJ PROPERTY OVERVIEW IDEAL POTENTIAL END USERS FOR THE PROPERTY Because the property can benefit/achieve zoning redevelopment with ease, the following would be CLICK HERE TO VIEW VIDEO ideal end-users for the +/- 150 acres. • Growing Vineland Industrial Park MIXED-USE HIGH VISIBILITY with newly available locations Retail/Office in combination with CAMPUS • Strong local amenities adjacent to Residential (Over • High visibility parcel in parcel which is a complement to site: 55+/assisted living) Vineland bounded by - WAWA/Gas - E. Landis Ave - Main Tree Shopping Center / Acme - S. Main Road EDS/MEDS - Bank Branch (Capital Bank) Satellite campus of - E. Chestnut Ave - TD Bank existing Education - S. Spring Road - Veterans Memorial school and/or Medical Systems • Close to Route 55 and Route - Maintree Commons 47 (approximately 4 miles) Professional Office Complex AGING of 6 modern office buildings POPULATION • 25 miles to I-295, Route 42, AC - Sun National Bank Assisted Living Expressway and Philadelphia Over 55+ Community • Vineland qualifies for the NJEDA • Potential for multiple end users GROW NJ incentive program for the redevelopment of the site; RETAIL/BIG BOX (depending on use of site), which can Retail users to i.e. (Residential developer, Senior help revitalize the City of Vineland Assisted Living, Senior Housing, Rehab compliment the area facility, Medical, Office, Education) • Close (6 miles) to SJH Regional Hospital, a part of the INSPIRA Health Network INDUSTRIAL • Property has existing buildings on the parcel that can be reused • Subject to dilineation, site appears for certain end users to be free from Wetlands • A common roadway from S. • Numerous nearby physician/dental Main Road provides access tothe offices, ME Med. Express Care, Property from the west LabCorp, and INSPIRA and PENN MEDICINE associated facilities PROPERTY OVERVIEW VINELAND CENTRAL come grow with us LOCAL AMENITIES WITHIN 1 MILE FROM SITE: • WAWA/Gas • YMCA • Wendy’s • Main Tree Shopping Center/ Acme • CVS Pharmacy • TD Bank • Maintree Commons • Sun National Bank • McDonald’s MARKET OVERVIEW and Greyhound bus lines. Philadelphia CUMBERLAND International Airport, Atlantic City Well over half of International Airport and Millville Airport the workforce COUNTY and its air transit related businesses, is engaged in Vineland is the largest are less than 20 minutes away. the following city in Cumberland County. Twice industries: voted one of the “best places to live POPULATION in New Jersey” by Cumberland County is comprised of 14 Money Magazine, municipalities, (three cities, 10 townships Cumberland County and one borough) — with a combined population of 155,971 and consisting of offers affordable housing, an economical RETAIL TRADE business location with access to excellent 484 square miles. The median age of the highways and rail service, an abundance County population is 37 years. Well over of beautiful natural resources, picturesque half of the workforce is engaged in the scenery and more. This wealth of assets retail trade, health care and education, is extremely rare and makes Cumberland manufacturing and public administration. County an ideal place to live and work. EMPLOYMENT HEALTH CARE TRANSPORTATION Cumberland County offers many Cumberland County is in proximity to the employment and career opportunities. AC Expressway and the Garden State The County’s two largest employers are Parkway and has direct access to Routes Inspira Health Network and Durand Glass 55, 56, 77, 347, 49 & 47. New Jersey Transit Manufacturing Co, being representative Bus Services cover Cumberland County, companies from the City, County, and EDUCATION and Cumberland Area Transit System State Businesses looking to expand or (CATS) provides bus routes throughout relocate have a number of excellent the county. New Jersey Transit’s ‘Atlantic financial incentives available to them from City Passenger Rail Line’ runs from the County and State. These benefits Philadelphia through several smaller include grants, low interest loans, tax southern New Jersey communities, such credits, job training assistance, sales tax as nearby Hammonton (20 minute drive exceptions and more. These business MANUFACTURING from Vineland), directly to the Atlantic incentives make Cumberland County City Rail Terminal at the Atlantic City competitive with all areas of the country. Convention Center. The Atlantic City Bus Terminal is the home to local, intra-state and interstate bus companies including NJT (New Jersey Transit buses connect to most PATCO stations in New Jersey) PUBLIC ADMINISTRATION MARKET OVERVIEW QUALITY OF LIFE Cumberland County’s natural beauty, cultural events and welcoming small towns continue to attract residents and non-residents. Cumberland County offers and abundance of recreational and cultural opportunities: a performing arts center, an acclaimed symphony orchestra, music festivals, museums, glass making at Wheaton Village, and a variety of special cultural events which all add to the unique quality of life. With close proximity to Philadelphia, Atlantic City, Cape May, and numerous other South Jersey beaches, all being within one hour’s drive or less, the County provides convenient and easy access to the surrounding region. • Vineland Electric Company, being the only AMENITIES municipality owned generating station in the New Cumberland County offers a number of local Jersey, and which offers below market electricity rates amenities that include the following: • Three theatres (Landis Theatre, and the Little • HealthSouth Rehab Hospital Theatre in Vineland, and the Levoy Theatre in • Millvile Arts District Millville) with regularly scheduled performances • Cumberland County College Sources: CBRE Fast Report, Cumberland County, Esri, Wiki • Cumberland Mall • Inspira Health Network VINELAND OVERVIEW • Wheaton Village With an estimated population of 61,309, the city of Vineland, New Jersey is a growing • Cohanzick Zoo community that accounted for 53% of the • Woodruff Museum of Indian Artifacts population growth within Cumberland County. • Bridgeton Southern New Jersey All Sports Hall of Fame Museum HOUSEHOLD INCOME • Seabrook Educational and Cultural Center In 2018 the average household income for seniors • Gouldtown - oldest African American settlement was $66,552, not far below the overall average in New Jersey, and perhaps in America” income for all age cohorts in Vineland, $73,937. The 2023 projections include an average income • “Springtown” (also in Cumberland County) is famous of $77,427 for seniors, a 16% increase, which is the for being one of the end points, code named, same increase expected for the overall average. “Northern Star” of the Underground Railroad. MARKET OVERVIEW TOP 50 NON-GOVERNMENT EMPLOYERS CUMBERLAND COUNTY, NJ • Inspira Health Network • Comcast • De Rossi & Son Co. • Durand Glass Manufacturing • Groupe Seb-USA • Townsend Farms Co./ARC International • Cumberland Guidance Center • Wilmad-Lab Glass • Walmart • Corning Glass • Laning Brothers Farms • ShopRite • Nardelli Brothers • Millville Rescue Squad and • Sheppard Bus Service • Genesis Health Care — Medical Response Services • F&S Produce/Pipco Millville Center • Cumberland Insurance Group Transportation • Bridor • J.G. Finneran • Seabrook Brothers & Sons, Inc. • Rite Aid • Walgreens • Wawa • Sheppard Farms, Inc. • BJ’s Wholesale Club • Omni Baking • Cumberland Dairy • Aunt Kitty’s Foods • Elwyn New Jersey • Lassonde Pappas (formerly • Acme Markets • Ardagh Group Clement Pappas) • Bayada Nurses • Lowes • General Mills/Progresso • Home Depot • Gerresheimer Glass • New Jersey Motorsports Park • Complete Care • Healthsouth Rehabilitation • Safeway Fresh Foods Hospital of Vineland • Gateway Community • Boscov’s Action Partnership • Samuel Coraluzzo Co./ • South State, Inc. Torrissi Transport • Nipro Glass Americas • Crown Clothing Company • Tower Hospitality • Amcor Rigid Plastics • Johnson Farms, Inc. • Griswold Special Care • AJM Packaging Corp. • Allied Specialty Foods • Chemglass Life Science • Eastern Fresh Growers • DWK Life Sciences • Assem-Pak, Inc. Sources: Exiting document (vetted), CBRE Fast Report, Cumberland County, PBJ, 2018 general research DEMOGRAPHICS CITY OF VINELAND, NJ PLACE OF WORK 2017 Businesses 2,249 2017 Employees 32,126 POPULATION 2017 Population—Current Year Estimate 61,309 2022 Population—Five Year Projection 61,911 2017 Median Age 38 HOUSEHOLD INCOME 2017 Households 21,558 2017 Median Household Income $54,062 2022 Median Household Income $59,879 ©2018 CBRE. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Source: 2018 Esri Cumberland County VINELAND INCENTIVES VINELAND QUALIFIES FOR STATE/LOCAL PROGRAMS/INCENTIVES TO ASSIST THE SUSTAINABILITY/GROWTH OF BUSINESSES REAL ESTATE TAX URBAN ENTERPRISE ABATEMENT PROGRAM ZONE LOAN PROGRAM FOR 5 YEARS • Business must be located within • Abatement ranging from land taxes UEZ Zone and be UEZ Certified, only — 80% of improvements and Recertified every three years as a Qualified Business • Maximum loan equal to or less than one third of hard or eligible costs
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