333 Forsgate Dr, Jamesburg, NJ for sale

Investment Overview

NAI James E. Hanson, as exclusive broker, is pleased to present the opportunity to acquire the fee simple interest in Renaissance Commons, a 22,915 square foot high profile neighborhood retail center with a predominantly medical tenancy at 333 Forsgate Drive in Jamesburg, Middlesex County, New Jersey. Built in 2003 on 2.9 acres, the property is offered for sale for the first time since its development. Renaissance Commons sits where neighborhood retail and outpatient medical demand converge. It commands direct frontage on Forsgate Drive, the neighborhood’s principal corridor, with monument signage and full turning movements that place every passing car within a single turn of the center. Active adult communities, established subdivisions, and a growing population over 65 generate daily trips for care, errands, and food, and few sites on the corridor are positioned to capture them. Dentistry, internal medicine, and Quest Diagnostics selected the location for the same reasons retailers do: visibility, access, and a daily presence in the neighborhood they serve. Together they make the center a single convenient destination for complementary services. Approved this year for convenience store and restaurant uses, the property now competes for both sides of that demand. The entitlement arrives fully secured and expands the tenant pool to daily needs retail and quality food operators alongside medical, giving a buyer three distinct paths to lease-up. Established medical tenancy delivers durable income from day one. A share of the rents sit below market on shorter remaining terms, and staggered expirations provide a defined path to rent growth. Whether the next tenant is a convenience store, a restaurant, or a practice, ownership leases to the highest rent in a submarket where medical outpatient buildings run approximately 95.5% occupied against inventory unchanged since 2018.

Investment Highlights

• Newly Approved: Convenience Store & Restaurant Use - Entitlements secured this year. The buyer inherits the approval on day one.
• A Generational Offering - Original ownership since development. First time to market.
• Prime Forsgate Drive Frontage - Monument signage and multiple curb cuts with full turning movements, minutes from Turnpike Exit 8A.
• Medical Tenancy on a Retail Site - Dentistry, internal medicine, and Quest Diagnostics under one roof.
• Income in Place, Upside in Hand - Approximately 81.5% occupied. Below market rents with staggered expirations provide a clear path to rent growth.
• A Constrained, Affluent, Aging Trade Area - Five-mile medical inventory flat since 2018 at 95.5% occupancy. $140,454 median income. 65+ population growing 2.6% annually.