635 Bay Avenue, Toms River, NJ, USA

RIPCO REAL ESTATE has been exclusively retained on the disposition of 635 BAY AVENUE IN TOMS RIVER, NEW JERSEY - Seacourt Pavilion (the “Property).

Seacourt Pavilion is a ~252,677 square foot open-air shopping center on a ~25.67 acre lot. The shopping center consists several national credit tenants including Marshalls, HomeGoods, Ashley Furniture, and DaVita Dialysis alongside a mix of local neighborhood tenants. Several longstanding tenants provide stable income while the 38% vacancy provides a tremendous value-add opportunity.

The Property consists of one main building, two out-parcels, and a ~0.7 acre undeveloped pad site. It is located off Ocean County 571 and Hooper Avenue, a heavily trafficked thoroughfare with +43,000 vehicles per day [AADT] combined. Directly adjacent to the Property is a newly-built 128 unit luxury residences and under construction is a 68,000 square-foot veterans clinic which will increase patrons to the Property - the most visited shopping center in Ocean County, New Jersey with 1.3 million visitors annually, per Placer.ai.

Seacourt Pavilion provides a rare opportunity to acquire a trophy shopping center at below replacement cost. Please reach out to the exclusive brokers for additional information or to arrange for a property tour.