Navesink Center is a newly renovated neighborhood shopping center with 44,298 net rentable square feet and 183 parking stalls (ratio of 4.13/ 1000). Perched above State Route 36 and Valley Drive East with two entry/ exit points from each roadway, Navesink Center is highly visible and easily accessible helping to produce the heavy footfall and above average sales reported by tenants. Professionally managed and with lease terms averaging more than 20 years, Navesink Center is currently anchored by a mix of e-commerce and pandemic resilient tenants including Goodwill, Dollar Tree, Investors Bank, Integrated Medical Alliance, Navesink Fitness, Gateway Liquors and shadow anchored by Super Food-town, Quick-check and CVS pharmacy,
In the path of NYC commuter traffic, 23,750 vehicles pass by Navesink Center each day. Traffic increases to 35,625 vehicles per day during the summertime when nearly 1,500,000 people visit the area. Consumer demand currently outpaces supply by more than 600 million dollars per year (according to ESRI 2020) and this trend is likely to continue as development of retail property in the area is severely limited due to zoning and wetlands restrictions. On the other hand, there are more than 600 residential units currently in development adding to the 50,000 residents currently living within a 10 minute drive time. The net effect of the above is that Navesink Center is well positioned for long term success.
Matthew Kenderian
Catalyst Real Estate Partners
