CBRE has arranged the off-market sale of a newly constructed, single-tenant Chick-fil-A retail property located at 400 Premium Outlets Drive in Blackwood, Camden County, for $3.725 million.
A private investor acquired the net-leased asset from developer Skyline Development USA, LLC, a Mid-Atlantic commercial real estate firm that constructed the site earlier this year.
The newly completed 5,180-square-foot quick-service restaurant sits on a high-visibility pad directly off Route 42 and the Atlantic City Expressway, a premier South Jersey commercial artery that sees daily traffic volume exceeding 118,000 vehicles.
The location places the restaurant directly across from Gloucester Premium Outlets, a regional retail destination drawing over 2.7 million visitors annually.
The transaction was backed by a long-term 20-year corporate ground lease with Chick-fil-A, Inc., offering the buyer guaranteed long-term cash flow secured by one of the quick-service restaurant sector’s top-performing brands.
CBRE’s capital markets advisory team representing the seller included Michael Shover, Matthew Gorman, Thomas Finnegan, Robert Thompson, and Nick Holtz.
“Chick-fil-A remains one of the most sought-after tenants in the market due to its disciplined site selection strategy, strong operating performance and long-term commitment to its operators,” Michael Shover, Senior Vice President at CBRE said. “Combined with a rare 20-year corporate ground lease and a highly visible location, those factors drove strong investor interest in this transaction.”
