RETAIL LEASING OPPORTUNITIES AVAILABLE elizabeth center elizabeth, nj off exit 13a of the new jersey turnpike Steven Winters O: +1 732 50 2867 C: +1 732 768 88 steven.winters@cbre.com
Overview Retail Leasing Opportunities at Elizabeth Center, Elizabeth, New Jersey Join IKEA, Toys R Us, Babies R Us and Big Lots at Elizabeth Center. This 73-acre retail project, anchored by a +/- 350,000 square foot IKEA, is expanding. Elizabeth Center is located directly off Interchange 13A of the New Jersey Turnpike, across from the Newark Liberty International Airport Down the street from The Mills at Jersey Gardens (one of the top grossing outlet centers in the Northeast) with reported sales of more than $850/sf. Two hotels are planned as well as retail and restaurant pads available for ground lease. Opportunities include multiple pads located along North Avenue at the signalized intersection of IKEA Drive. Strategically positioned in the heart of New Jersey with proximity to New York City, Staten Island, Newark Airport, major highways, and a highly successful outlet center Major Highways: Elizabeth Center is centrally located in New Jersey between New York City and Philadelphia - approximately 11 miles to New York City, 75 miles to Philadelphia, and 0 miles to Atlantic City. Additionally, transit options include the exclusive IKEA Elizabeth Center shuttle through the in New York City as well as Amtrak and New Jersey Transit through Newark Liberty International Airport. Ease of access is facilitated by an extensive highway network, including the New Jersey Turnpike and to the Garden State Parkway, Interstates and 280, US Highway 1 &, the Goethals Bridge and the Outerbridge Crossing to Staten Island as well as the Holland and Lincoln Tunnels to New York City. This draws a regional consumer base serving central and northern New Jersey, Staten Island, Manhattan and the Lower Hudson Valley, New York. Located at Interchange 13A off the New Jersey Turnpike with over 220,000 cars passing daily More than 2.7 million people living within a 45 minute drive Newark Liberty International Airport: Busiest airport in the metropolitan area In 2014, Newark Airport handled over 35.6 million passengers The Mills at Jersey Gardens: Largest outlet mall in New Jersey and closer to New York City than its largest outlet mall competitor, Woodbury Commons Elizabeth is an Urban Enterprise Zone with a 3.5% tax rate which provides a potent lure for New York City residents paying over 8% in taxes and other New Jersey commuters paying 6.8%.
NEWARK 280 124 24 21 JERSEY CITY 22 S Walmart JER IT E 82 The Mills at Jersey Gardens ELIZABETH NEW Newark Liberty International Airport SEY YOR K UNION 22 NEW 82 28 Walmart 28 2 INFIELD 2 2 Walmart MARKET OVERVIEW STATEN ISLAND WOODBRIDGE 35
21 3 Miles INTERSTATE INTERSTATE 22 22 Newark Liberty International Airport 1 35+ Million Annual Passengers 204,444 ADT INTERSTATE INTERSTATE 82 ±2 Million Visitors ±72% NJ, ±23% NY ±53% on weekends ±53% from 0-40 minute drive time Port Elizabeth One of the busiest shipping ports in the US Current $1 Billion project to raise the Bayonne Bridge to allow for larger Panamaz ships from Asia to enter the port 81 65,0 Residents 2,524 Businesses 34,416 Employees 33,102 ADT SITE 67 Businesses 21,481 Employees Both Port Elizabeth and Newark Airport have 24/7 Operations One of the highest grossing Ruby Tuesday Restaurants in the NJ trade areas 1 INTERSTATE Landlord: Simon Properties Type: Outlet (NJ s largest outlet center) GLA: 1,304,000 SF Happenings: $30 Million renovation and rebranding in 2014 and proposed 418,000 SF expansion in 2017-2018 SALES: $852 per Sq Ft WHY ELIZABETH CENTER?
ns t No rth Co T AD 36 26 Wells Fargo Newark Liberty International Airport,.7 Broad St 4,.356 ADT rbi 1 1 Av e, A The Elizabeth Center Delta Gas DT Ly le Kin gs t 22,0 0A DT rth 7 11,7 Av e 4 AD T d St EXIT 13A Dow Gran rs t Port Elizabeth Le No Future Retail Tenant ste Proposed Hotels Ave 33,06 3A DT Retail Pad Locations Mc Farm o un t The Mills at Jersey Gardens ve da Jer Broad Br Stoad St Pearl St Eli Trinidas Hospital za be th Th sey Str eet um ba COHOES LOEWS IMAX OUTLET ll S t Av e MARKET OVERVIEW
ELIZABETH CENTER SITE PLAN ±220,000 ADT NEWARK LIBERTY INTERNATIONAL AIRPORT CONCEPT PLAN Restaurants Hotels Convenience Store/Gas Existing Existing North Ave 33,063 ADT Retail OUT LOT ±4 Acres AVAILABLE For Sale PSA Out with Retailer ±155,000 SF Existing 0.5 MI N N
CIRCULATION PLAN - INGRESS circulation plan - ingress From The Mills at Jersey Gardens From Newark International Airport From Routes 1/ Exit 13 A 62,500 ADT From NJ Turnpike Southbound From NJ Turnpike Northbound Newark Liberty International Airport Jersey Garden Blvd North Ave 33,063 ADT 1 ± 220,000 ADT 2 4 Ikea Dr 5 Southbound Northbound Kapkowski Rd The Mills at Jersey Gardens Landlord: Simon Properties 1,2,700 SF, 230 Stores, 18M Shoppers/yr Lyle King St COHOES LOEWS IMAX OUTLET Port Elizabeth McLester St
CIRCULATION PLAN - EGRESS circulation plan - Egress To NJ Turnpike Northbound To NJ Turnpike Southbound To Routes 1/ Exit 13 A 62,500 ADT To Newark International Airport To The Mills at Jersey Gardens Newark Liberty International Airport Jersey Garden Blvd North Ave 33,063 ADT 1 ± 220,000 ADT 2 4 Ikea Dr 5 Southbound Northbound Kapkowski Rd The Mills at Jersey Gardens Landlord: Simon Properties 1,2,700 SF, 230 Stores, 18M Shoppers/yr Lyle King St COHOES LOEWS IMAX OUTLET Port Elizabeth McLester St
Demographics Radius Drive Time 3 Miles 5 Miles 7 Miles 10 Miles 15 Minutes 30 Minutes 45 Minutes 60 Minutes POPULATION 184,18 624,867 1,236,87 2,768,04 Population 725,487 5,42,210 13,572,237 16,706,843 62,136 218,66 437,342 1,034,453 2015 Households 253,15 2,353,387 5,08,243 6,173,573,647 344,667 684,214 1,421,7 Daytime Population 357,76 2,65,567 7,001,602 8,22,522 102,823 334,764 552,5 1,52,1 Employees 342,665 5,052,286 7,16,300 8,815,574 INCOME $45,820 $47,38 $4,611 $60,473 Median Household Income (2015) $4,017 $64,134 $58,647 $62,862 $60,313 $64,432 $67,740 $88,675 Average Household Income (2015) $65,360 $7,881 $87,84 $3,225 RACE 50.77% 43.60% 41.77% 52.68% White 42.8% 57.45% 4.76% 52.3% 24.3% 34.53% 35.33% 20.68% African American 33.52% 14.76% 20.56% 1.72% 3.46% 5.32% 7.16% 12.1% Asian 7.16% 13.53% 13.1% 12.25% 16.20% 12.38% 11.83% 10.0% Other 12.3% 10.53% 12.51% 11.35% 50.46% 33.68% 30.11% 25.53% Hispanic 33.45% 26.42% 28.31% 25.7% EDUCATION 14.47% 1.62% 22.52% 33.2% % of Population with Bachelors Degree or Higher 20.43% 41.07% 35.3% 37.13%
Steven Winters O: +1 732 50 2867 C: +1 732 768 88 steven.winters@cbre.com