228 ROUTE 17 N UPPER SADDLE RIVER, NJ AMAZING REDEVELOPMENT OPPORTUNITY 228 LOCATED DIRECTLY ON ROUTE 1 7 ONE OF NORTHERN NJ’S MAIN RETAIL NORTH CORRIDORS UPPER SADDLE RIVER, NJ OFFERING MEMORANDUM PAGE 2 228 ROUTE 17 N UPPER SADDLE RIVER, NJ AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENT CBRE, Inc. operates within a global family of companies with market conditions, competition and other factors beyond the making an offer to purchase the Property unless and until written many subsidiaries and/or related entities (each an “Affiliate”) control of the Owner and CBRE, Inc. Therefore, all projections, agreement(s) for the purchase of the Property have been fully engaging in a broad range of commercial real estate businesses assumptions and other information provided and made herein executed, delivered and approved by the Owner and any including, but not limited to, brokerage services, property and are subject to material variation. All references to acreages, conditions to the Owner’s obligations therein have been satisfied facilities management, valuation, investment fund management square footages, and other measurements are approximations. or waived. and development. At times different Affiliates may represent Additional information and an opportunity to inspect the Property various clients with competing interests in the same transaction. will be made available to interested and qualified prospective By receipt of this Memorandum, you agree that this Memorandum You hereby acknowledge that possibility and agree that neither purchasers. In this Memorandum, certain documents, including and its contents are of a confidential nature, that you will hold CBRE, Inc. nor any involved Affiliate will have any obligation leases and other materials, are described in summary form. These and treat it in the strictest confidence and that you will not disclose to disclose to you the involvement of any Affiliate in the sale or summaries do not purport to be complete nor necessarily accurate this Memorandum or any of its contents to any other entity without purchase of the Property. In all instances, however, CBRE, Inc. will descriptions of the full agreements referenced. Interested parties the prior written authorization of the Owner or CBRE, Inc. You act in the best interest of the client(s) it represents in the transaction are expected to review all such summaries and other documents also agree that you will not use this Memorandum or any of its described in this Memorandum and will not act in concert with or of whatever nature independently and not rely on the contents of contents in any manner detrimental to the interest of the Owner otherwise conduct its business in a way that benefits any Affiliate this Memorandum in any manner. or CBRE, Inc. to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the law Neither the Owner or CBRE, Inc, nor any of their respective If after reviewing this Memorandum, you have no further interest and any fiduciary duties owed to the client(s) it represents in the directors, officers, Affiliates or representatives make any in purchasing the Property, kindly return this Memorandum to transaction described in this Memorandum. representation or warranty, expressed or implied, as to the CBRE, Inc. accuracy or completeness of this Memorandum or any of its This is a confidential Memorandum intended solely for your contents, and no legal commitment or obligation shall arise by limited use and benefit in determining whether you desire to reason of your receipt of this Memorandum or use of its contents; express further interest in the acquisition of the Property. and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real This Memorandum contains selected information pertaining property. to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property The Owner expressly reserved the right, at its sole discretion, to (the “Owner”), to be all-inclusive or to contain all or part of the reject any or all expressions of interest or offers to purchase the information which prospective investors may require to evaluate Property, and/or to terminate discussions with any entity at any a purchase of real property. All financial projections and time with or without notice which may arise as a result of review information are provided for general reference purposes only of this Memorandum. The Owner shall have no legal commitment LICENSED REAL Estate BROKER and are based on assumptions relating to the general economy, or obligation to any entity reviewing this Memorandum or 250 PEHLE AVE, 6TH FL | SADDLE BROOK, NJ 07663 CBRE © 2019 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. 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. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. CBRE CAPITAL MARKETS | TRI-STATE INVESTMENT PROPERTIES 228 ROUTE 17 N UPPER SADDLE RIVER, NJ 3 200’ OF FRONTAGE ON ROUTE 17 Exclusive Listing Brokers: SAMUEL BERNHAUT NICOLE NANNOLA CHARLES BERGER LICENSED REAL Estate BROKER First Vice President Associate Senior Vice President 250 PEHLE AVE, 6TH FL | SADDLE BROOK, NJ 07663 T +1 201 712 5884 T +1 201 712 5821 T +1 201 712 5846 [email protected] [email protected] [email protected] Capital Markets | Tri-State Investment Properties Group CONFIDENTIAL OFFERING MEMORANDUM 4 228 ROUTE 17 N UPPER SADDLE RIVER, NJ EXECUTIVE SUMMARY AMAZING REDEVELOPMENT CBRE is proud to offer for sale a premiere highway 228 OPPORTUNITY commercial property which sits along the busy retail ROUTE 1 7 LOCATED DIRECTLY ON ONE OF NORTHERN NEW corridor of Route 17 in the affluent suburb of Upper NORTH NEW JERSEY’S MAIN RETAIL CORRIDORS Saddle River. 228 Route 17 North consists of two PROPERTY SUMMARY freestanding, two-story commercial buildings totaling Location: 228 Route 17 North 8,404 SF. The 1.74± acres parcel features 200 feet City, State: Upper Saddle River, NJ of highway frontage and has two curb cuts for easy County: Bergen County access. The site offers tremendous redevelopment Property Use: Retail opportunity to construct a strip center, retail pad site, Total Building SF: 8,404± SF Parking: On-site parking with 33 spaces new car dealership or professional office building. Block & Lot: 1302 / 5 The subject property is surrounded by car dealerships Lot Size: 1.74± acres or 75,794± SF including, Porsche, Audi, Maserati, McClaren, Volvo Zoning: H-1R - Highway Retail and Commercial District Frontage: 200 feet and Lexus, as well as many national restaurant Year Built: c. 1970 chains and retailers including Olive Garden, Chili’s, Offering Price: $1,875,000 Houlihan’s, Smash Burger and McDonald’s. 228 ROUTE 17 N OFFERS A SIGNIFICANT Currently, a portion of the property is occupied by VALUE ADD OR OWNER/USER OPPORTUNITY Hertz, with their lease expiring in June 2022. IN AN EXTREMELY AFFLUENT AREA WITH AN AVERAGE HOUSEHOLD INCOME OVER $228,000. CBRE CAPITAL MARKETS | TRI-STATE INVESTMENT PROPERTIES 228 ROUTE 17 N UPPER SADDLE RIVER, NJ 5 CONFIDENTIAL OFFERING MEMORANDUM PAGE 6 228 ROUTE 17 N UPPER SADDLE RIVER, NJ CBRE CAPITAL MARKETS | TRI-STATE INVESTMENT PROPERTIES 228 ROUTE 17 N UPPER SADDLE RIVER, NJ 7 CONFIDENTIAL OFFERING MEMORANDUM PAGE 8 228 ROUTE 17 N UPPER SADDLE RIVER, NJ LOCAL AREA RETAIL MAP Surrounded by national retailers and high end automotive dealerships, 228 Route 17 N sits on almost 1.75 acres with 200 feet of frontage on Route 17. With over 100,000 vehicles per day, Route 17 is one of the most heavily trafficked retail corridors of Northern New Jersey, which affords any tenants seeking space in this market excellent accessibility and brand exposure. CBRE CAPITAL MARKETS | TRI-STATE INVESTMENT PROPERTIES 228 ROUTE 17 N UPPER SADDLE RIVER, NJ 9 SURVEY CONFIDENTIAL OFFERING MEMORANDUM PAGE 10 228 ROUTE 17 N UPPER SADDLE RIVER, NJ INVESTMENT HIGHLIGHTS LIMITED PIPELINE AND HIGH BARRIER TO ENTRY 228 Route 17 N encompasses 1.74+ acres of prime real estate in the heart of Upper Saddle River, New Jersey, in the heart of dealership row. The site is a true anomaly within the local marketplace because of its highly coveted location in New Jersey and its opportunity for redevelopment. It is a rarity that a site of this nature comes to market in Bergen County, let alone along the Route 17 corridor. SUPERIOR LOCATION Situated within one of the most sought-after areas of the State, the Route 17/Route 4 Corridor in affluent Bergen County, 228 Route 17 N presents a potential developer or owner/ user a superior location where the Average Household Income is 15% greater than that of the state average. It is also within close proximity to the vast array of amenities Bergen County has to offer such as world-class hospital facilities, car dealerships, high-end luxury shopping, parks, and renowned restaurants along with the State’s most highly rated public school systems.