720 Washington Ave Carlstadt, NJ 07072

This offering is for a 5,496-square-foot convenience store with a fuel dispensing facility, located on 2.26 acres in Carlstadt, NJ. Constructed in 2013, the property features eight multi-product dispensers for automobiles and two diesel pumps. The property is under a favorable triple net lease with a 20-year term, of which just under ten years remain. The lease includes 10% rental escalations every five years for land rent, and a 10% rental escalation for improvement rent after 10 years. The current lease offers two 10-year renewal options with the same rent-step structure, extending the term through 2053 if all options are exercised. The tenant, QuickChek, was founded in 1967 and acquired by Murphy USA Inc. (NYSE: MUSA) in January 2021. Murphy USA operates across 27 states with 1,700 locations, serving over 2.0 million customers per day under the Murphy USA, Murphy Express, and QuickChek brands, with strategic partnerships with Walmart. This Carlstadt QuickChek presents an opportunity to acquire a long-term cash flowing asset with a well-regarded gas and convenience tenant in a premiere Northern New Jersey location.