February 13, 2025 – Rob DiFranco and Michael Lombardi of Horvath & Tremblay have successfully completed the sale of a Raising Cane’s in Glassboro, New Jersey. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $3,750,000 which represents a 4.80% Cap Rate.
The new construction Raising Cane’s is located at 695 Delsea Drive N in Glassboro, New Jersey and consists of a 3,026 square foot building with a drive thru. Raising Cane’s has a new 15-year Absolute NNN Ground Lease with five (5), five-year renewal options. The lease calls for attractive rent increases every 5 years throughout the primary lease term and at the start of each renewal option. Raising Cane’s is extremely well located along Delsea Drive N (NJ Route 47), the region’s primary retail corridor. Situated at the signalized intersection of Delsea Drive N and Donald Barger Boulevard, the Property enjoys outstanding visibility, frontage and access and is 1-mile from US Route 322, and 2.4-miles from the Jersey Freeway (NJ Route 55). Additionally, Raising Cane’s shares the intersection with Doubletree Shopping Center (ALDI anchored) and College town Shopping Center (Lidl & Esporta anchored), the two largest retail centers in the area. The Property is part of a dominant trade area that is home to countless national retailers and restaurants, Rowan University, Inspira Medical Center Mullica Hill, all of which drive traffic to the area. Additionally, the Property is surrounded by densely populated residential neighborhoods providing a built-in customer base.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.