Single Tenant Bob's Discount Furniture

Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant property leased to Bob’s Discount Furniture, (the “Property”) in Toms River, a township in Ocean County, New Jersey. Toms River is part of the New York City MSA which is the largest metro area in the country and home to nearly 19.5 million residents. Bob’s Discount Furniture operates on a brand new, corporately guaranteed, ten-year, lease with 10% rental increases every 5 years. The building has undergone recent capital improvements, including new HVAC units and a brand new roof in June of 2024, which includes a 20-year transferable warranty. Bob’s Discount Furniture sits at the corner of the signalized intersection between Hooper Avenue (43,500 VPD) and Oak Avenue where the property benefits from excellent visibility and ample accessibility. Hooper Avenue (43,500 VPD) is home to some of the top performing national retailers within their respective chains. Five Below ranks in the top 90th percentile of their chain within the United States. Lowe’s Home Improvement ranks in the top 87th percentile in New Jersey (75th percentile in U.S.). Target ranks in the top 86th percentile in New Jersey (81st percentile in U.S.). LA Fitness also ranks in the top 74th percentile of their chain in the country, cementing the strength of the corridor (Placer.ai).

In the last couple of years, multiple new developments in the nearby area surrounding the property have been completed. Camelot at Toms River, a development of 128 luxury apartment units was completed in 2023. In October 2024, the newly constructed, 68,000 square foot Veteran Affairs Clinic located on Hooper Avenue held its grand opening. The 5-mile area surrounding the Property exhibits excellent demographics with a population of nearly 176,000 and 72,000 households, growing by an average of 4.7% since 2010. The population and number of households within the area are projected to continue to rise by 2029. Additionally, the average household income within a 1-mile radius surrounding the property sits at $162,000.

Bob’s Discount Furniture is one of the fastest growing furniture retailers in the country with over $2B in annual sales. Headquartered in Manchester, Connecticut, Bob's Discount Furniture specializes in quality furniture, bedding, mattresses, furnishings, and accessories. As of October 2024, the company has 189 stores in 24 states, making it the 9th largest U.S. furniture chain, primarily in the Northeast, Mid-Atlantic, Midwest, and West Coast.