ASHLEY FURNITURE HOMESTORE - OFFERING MEMORANDUM EXCLUSIVE NET-LEASE OFFERING - LoopNet
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ASHLEY FURNITURE
HOMESTORE
350 US-22 West - Gre en Bro ok , NJ 0 8 8 1 2
OFFERING MEMORANDUM
EXCLUSIVE NET-LEASE OFFERING
M i l l i c h a p
TABLE OF CONTENTS
PHILA
Marcus & Millichap Section 1: Investment Summary Section 3: Location Overview
The Offering............................................................4 Regional Map.......................................................14
&
OFFERED Investment Highlights................................................5 Site Plan...............................................................15
M a r c u s
Rent Schedule..........................................................6 Aerial Map...........................................................16
EX CLUSI VELY BY Lease Abstract.........................................................7 Location Overview............................................17-18
Demographic Summary.....................................19-20
Derrick Dougherty
First Vice President Section 2: Tenant Overview
//
Philadelphia, PA Ashley Furniture Homestore....................................10
Cell: 610.329.5886
Office: 215.531.7026 Regency................................................................11
Email: ddougherty@MarcusMillichap.com Regency Brands.....................................................12
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License: PA RS305854
NON-ENDORSEMENT
B r o o k ,
Scott Woodard
National Retail Group
Philadelphia, PA
Cell: 215.595.6214
AND DISCLAIMER NOTICE
Office: 215.531.7058
N O N - E N D O RS E M E N TS
G r e e n
Email: scott.woodard@MarcusMillichap.com
License: PA RS329242 Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing
package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or
Mark Krantz endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial
National Retail Group
listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to
Philadelphia, PA
-
Cell: 610.322.8471 prospective customers.
H o m e s t o r e
Office: 215.531.7056
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE
Email: mark.krantz@MarcusMillichap.com
DETAILS.
License: PA RS336064
Steven Garthwaite D IS CLA IM E R
National Retail Group The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only
Philadelphia, PA
by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written con-
Cell: 215.390.4549
Office: 215.531.7025 sent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective pur-
F u r n i t u r e
Email: steve.garthwaite@MarcusMillichap.com chasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute
License: PA RS332182 for a thorough due diligence investigation. Marcus & Millichap and the property owner have not made any investigation, and makes no
warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance
of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances,
PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the finan-
cial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.
A s h l e y
The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus &
Millichap and the property owner have not verified, and will not verify, any of the information contained herein, nor has Marcus & Milli-
chap or the property owner conducted any investigation regarding these matters and makes no warranty or representation whatsoever
regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all
Marcus & Millichap of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. ©
2005 Market Street #1510
2017 Marcus & Millichap. All rights reserved.
2 Philadelphia, PA 19103
P: 215.531.7000 Broker of Record: J.D. Parker
License: 1539141
www.marcusmillichap.com
3
A s h l e y F u r n i t u r e H o m e s t o r e G r e e n B r o o k , N J // M a r c u s & M i l l i c h a p
INVESTMENT
SUMMARY
ASHLEY FURNITURE HOMESTORE
M i l l i c h a p
THE OF FERING
ASHLEY FURNITURE HOMESTORE
Marcus & Millichap, on behalf of ownership as its
&
Offering Summary
exclusive advisor, is pleased to offer for sale the
M a r c u s
opportunity to acquire the 100 percent fee simple Price $8,000,000
interest in the Ashley Furniture HomeStore located at Cap Rate 7.50%
350 US-22 West Green Brook, NJ (the “Property”). Ownership Interest Fee Simple
//
The tenant is an experienced Ashley Furniture licensee (40 furniture stores, 350 US-22 West - Green Brook, New Jersey 08812
18 of the 40 are branded as Ashley Furniture) who just executed a brand
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Property Type Home Furnishing Retailer
new 15-year absolute triple-net lease effective as of January 10, 2018. The Building Size (SF)
B r o o k ,
30,000 +/-
base annual rent will be $600,000 and is scheduled to increase 1.5 per-
Land Area (acres) 2.16 +/-
cent annually throughout the first four years of the base term and 3 percent
annually throughout years 5 to 15. The Property is strategically located along Year Built 2014
G r e e n
US-22 with traffic counts exceeding 44,000 vehicles per day with excel-
lent visibility and signage. Green Brook is located 35 miles from downtown New York and is considered a very dense infill submarket
(190,000 People) with a affluent consumer base ($117K AHHI).
-
H o m e s t o r e
The tenant on the lease is Sammy Furniture of Green Brook Inc, a licensee of Ashley Furniture HomeStore. The lease is guaranteed by
certain tenant affiliates for the first 3 lease years. The parent company of the licensee has over 20 Years of operating experience and
is based in Brandywine, MD. Currently, they own and operate a total of 40 furniture stores throughout the Northeast and Mid-Atlantic
under a total of 5 different furniture brands.
F u r n i t u r e
Ashley Furniture HomeStore is a global furniture store chain that sells Ashley Furniture brand products. The chain comprises over 450
HomeStore locations in North America and 750 locations worldwide. The chain has both corporate and independently owned and
operated furniture stores. The company earned an estimated FY2016 total revenue of $3.8 billion and employs 40,000. Ashley
Furniture HomeStores is the number one selling furniture store brand in the world and is the number one retailer of furniture and
A s h l e y
bedding in the United States.
4
A s h l e y
INVESTMENT HIGHLIGHTS
F u r n i t u r e
Strong Brand Recognition
Ashley Furniture Home Stores is the number one selling furniture store brand in the world and is the
number one retailer of furniture and bedding in the United States.
H o m e s t o r e
Experienced Ashley Furniture Licensee
Regency Furniture Corp has 20 Years of experience and now operates 40 Furniture Stores under 5 Different
Brands with over 200,000 deliveries per year. Recently named one of the most influential furniture retailers in the US
by Furniture Today.
G r e e n
Long Term Triple-Net (NNN) Lease
Tenant executed a 15-year absolute triple-net lease effective on January 10, 2018. The lease has two, 5-year renewal options.
B r o o k ,
Strong Inflation Hedge | Attractive Rental Escalations
The lease calls for 1.5 percent rental escalations annually throughout the first 4 years of the base term and 3 percent throughout
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years 5 to 15. Base rent also increases 3 percent during each option year.
//
Well-Positioned Asset on Major Retail Corridor with High Traffic Counts
M a r c u s
Strategically positioned along US-22 West with traffic counts exceeding 44,000 vehicles per day with strong visibility and signage.
Ideal Local Demographics | 35 Miles from Downtown New York
&
The Green Brook location serves a trade area of 190,000+ people with an average household income of $117,000+ within five miles
M i l l i c h a p
of the site.
Annual Financial Reporting
The lease requires the tenant to deliver annual financials which provides ultimate transparency for investors.
5
M i l l i c h a p
RENT SCHEDULE
BUILDING LOT SIZE LEASE TERM ANNUAL M O N T HLY LEASE RENEWAL
PROPERTY YEARS REN T PSF I N CREASE
SF (ACRES) REMAINING RENT RENT TYPE OPTIONS
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1 $600,000.00 $50,000.00 $20.00
M a r c u s
2 $609,000.00 $50,750.00 $20.30 1.50%
3 $618,135.00 $51,511.25 $20.60 1.50%
4 $627,407.03 $52,283.92 $20.91 1.50%
5 $646,229.24 $53,852.44 $21.54 3.00%
6 $665,616.11 $55,468.01 $22.19 3.00%
//
7 $685,584.60 $57,132.05 $22.85 3.00%
8 $706,152.13 $58,846.01 $23.54 3.00%
9 $727,336.70 $60,611.39 $24.24 3.00%
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10 $749,156.80 $62,429.73 $24.97 3.00%
11 $771,631.50 $64,302.63 $25.72 3.00%
B r o o k ,
350 US-22 West 12 $794,780.45 $66,231.70 $26.49 3.00%
2 5-Year
Green Brook, NJ 30,000 +/- 2.16 +/- 15 Years 13 $818,623.86 $68,218.66 $27.29 3.00% NNN
Options
08812 14 $843,182.58 $70,265.21 $28.11 3.00%
15 $868,478.05 $72,373.17 $28.95 3.00%
G r e e n
(Option 1) 16 $894,532.40 $74,544.37 $29.82 3.00%
17 $921,368.37 $76,780.70 $30.71 3.00%
18 $949,009.42 $79,084.12 $31.63 3.00%
19 $977,479.70 $81,456.64 $32.58 3.00%
20 $1,006,804.09 $83,900.34 $33.56 3.00%
-
(Option 2) 21 $1,037,008.22 $86,417.35 $34.57 3.00%
H o m e s t o r e
22 $1,068,118.46 $89,009.87 $35.60 3.00%
23 $1,100,162.02 $91,680.17 $36.67 3.00%
24 $1,133,166.88 $94,430.57 $37.77 3.00%
25 $1,167,161.88 $97,263.49 $38.91 3.00%
4.60% 5.06% CAP
F u r n i t u r e
10.06%
9.77% CAP
9.48%
CAP CAP
10% 8.94%
9.21%
CAP CAP
CAP CAP
8.68% CAP
8.43%
9% CAP
Cap Rate
8.18% CAP
7.94%
7.71% CAP
A s h l e y
7.49% CAP
CAP
8% 7.11% 7.19% 7.27% CAP
7.00% CAP
CAP CAP
CAP
7%
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15
6
LEASE ABSTRACT
A s h l e y
Sa m m y Fu r n i t u r e o f G r e e n B r o o k I n c . d / b / a
Tenant
A sh l e y F u r n i t u r e H o m e st o r e s
Regency Furniture Distributing Inc. and
Guarantor
F u r n i t u r e
Regency Management Services Inc.: (First three (3) lease years)
Address 350 US-22 West, Green Brook, NJ 08812
Loan Information:
65%-70% LTV
Building Size 30,000 SF +/-
5 Year Fixed 4.25%
Lot Size 2.16 Acres +/- 7 Year Fixed 4.5%
H o m e s t o r e
10 Year Fixed 4.75%
Year Built 2014
25 Year Amortization
Lease/ Rent Commencement 1/10/2018 Recourse
Lease/ Rent Expiration 1/31/2033
Base Lease Term 15 Years Stephen Filippo
G r e e n
Lease Term Remaining 15 Years Associate Director
Marcus & Millichap Capital Corporation
Annual Base Rent $600,000.00
260 Madison Avenue
B r o o k ,
Rent Increases *Years 2-4: 1.5% Annual Bumps. *Years 5-15: 3% Annually 5th Floor
Renewal Options Two (2) Five (5) year options
New York, NY 10016
Renewal Notice 9 months
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Option Increases 3% Annual
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Lease Type NNN
Landlord Responsibility Property Insurance (Pass through to tenant)
M a r c u s
Insurance Tenant Responsible
Taxes Tenant Responsible
&
CAM Tenant Responsible
M i l l i c h a p
Utilities Tenant Responsible
Financial/Sales Reporting Tenant has 90 days to deliver annual financials
ROFR None
Estoppel 10 business days
Parking 28 spaces (1 Truck Height Loading Dock)
7
Ownership Interest Fee Simple
Encumbrances None, Delivered Free and Clear ACTUAL LOCATION
9
A s h l e y F u r n i t u r e H o m e s t o r e G r e e n B r o o k , N J // M a r c u s & M i l l i c h a p
TENANT
OVERVIEW
ASHLEY FURNITURE HOMESTORE
M i l l i c h a p
Ashley Furniture Home Store is a furniture store chain that sells Ashley Furniture
products. Opened in 1997, the chain comprises over 450 Home Store locations
in North America and 750 locations worldwide. The chain has both corporate and
&
independently owned and operated furniture stores.
M a r c u s
The first Ashley Home Store opened in Anchorage, Alaska in 1997. They have
stores located throughout the world. Though many Ashley Home Stores are inde-
pendently owned and operated, all of the furniture sold is manufactured by Ashley.
//
OWNERSHIP:
Ashley Furniture Industries In 2003 the company opened it’s 100th Homestore, and in 2005 it’s 200th. Since
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then it has become the fastest growing furniture chain and is the number one furni-
NO. OF LOCATIONS
ture manufacturer in the world. As of 2017 the company now operates 750 home-
B r o o k ,
750
stores world wide.
WEBSITE:
AshleyFurnitureHomeStore.com The parent company of Ashley Homestore, Ashley Furniture Industries,
G r e e n
headquartered in Arcadia, Wisconsin, is the world’s largest home furniture
manufacturer. Owned by father and son team, Ron and Todd R. Wanek, the
company manufactures and distributes home furnishings throughout the globe.
-
The company employs more than 40,000.
H o m e s t o r e
TENANT OVERVIEW
Tenant Name Ashley Homestore
F u r n i t u r e
Company Revenues $3.8B +/-
No. Of Locations 750
Headquartered Arcadia, WI
A s h l e y
Web Site AshleyFurnitureHomeStore.com
10A s h l e y
Sammy Furniture of Green Brook, Inc. is part of the Regency Furniture Corp. family
of entities. Regency Furniture Corp. was founded in 1999 with the mission and
F u r n i t u r e
absolute focus on striving for excellence while growing their brands and welcoming
new ones to the current portfolio.
FURNITURE SHOWROOMS
Regency Furniture Corp. has a centralized focus on innovation and sustainability
within the business as the company grows stronger and larger. With a total of 40
H o m e s t o r e
OWNERSHIP:
stores Regency Furniture Corp. has been named one of the most influential Regency Management Services Inc.
furniture retailers in the United States by Furniture Today in 2014 and is known as
NO. OF LOCATIONS
one of the fastest growing furniture dealers in the United States.
40
OUR SUPPORT SYSTEM
G r e e n
WEBSITE:
regencyfurniture.com
REGIONAL WAREHOUSES
B r o o k ,
Each area we serve has its own warehouse and delivery facility. Suburban Maryland,
Northern Virginia and Fredericksburg, Virginia are serviced by a 1,000,000 square foot
warehouse in Brandywine, Maryland. Ashley HomeStores in Baltimore, Eastern Shore,
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Frederick, Hagerstown and the greater Washington D.C. are serviced from our 250,000
square foot warehouse in Middle River, Maryland. Our Mealey’s Furniture showrooms in
//
Philadelphia and our recent acquisition of six Ashley Homestores located in New Jersey will
be serviced by a completely renovated 370,000 square foot distribution center located in
M a r c u s
Northeast Philadelphia.
SERVICE CENTER
With over 200,000 deliveries per year, our service center and branches manage thousands
&
of inquiries daily.
M i l l i c h a p
FIVE
BRANDS
ONE MISSION
REPRESENTATIVE PHOTO
To set th e s ta nda r d f o r
s ervice an d s e l e c t i o n i n
th e fu rn itu re i ndus t r y 11M i l l i c h a p
8 STORES SERVING 4 MARKETS
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Suburban Maryland
M a r c u s
FURNITURE SHOWROOMS
Baltimore, Maryland
Northern Virginia
Fredericksburg, VA
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18 STORES SERVING 8 MARKETS
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Baltimore, MD Monmouth County, NJ
Suburban Maryland Middlesex County, NJ
B r o o k ,
Northern Virginia Somerset County, NJ
Frederick, MD Union County, NJ
Hagerstown, MD Staten Island, NY
G r e e n
Eastern Shore, MD
5 STORES SERVING 3 MARKETS
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Suburban Maryland
H o m e s t o r e
Northern Virginia
Fredericksburg, MD
7 STORES SERVING 2 MARKETS
Chester County, PA
F u r n i t u r e
Bucks County, PA
Philadelphia County, PA
Burlington County, PA
Lehigh County, PA
A s h l e y
2 STORES SERVING SOUTHERN MARYLAND
Charles County
St. Mary’s County
1213
A s h l e y F u r n i t u r e H o m e s t o r e G r e e n B r o o k , N J // M a r c u s & M i l l i c h a p
LOCATION
OVERVIEW
ASHLEY FURNITURE HOMESTOREM i l l i c h a p
REGIONAL MAP
&
M a r c u s
w York
ntow to Ne
iles
lle 35 M
A
n
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B r o o k ,
a
G r e e n
hi
lp
de
nt
Tre o
ila
Ph
n
o
st
le
Mi
-
70
of Pr u
H o m e s t o r e
King
ssia
F u r n i t u r e
ASHLEY FURNITURE HOMESTORE 1 MILE 3 MILES 5 MILES
Population 9,212 77,433 190,194
A s h l e y
Households 3,453 27,500 64,854
Household Income $133,741 $120,491 $117,558
Per Capita Income $50,188 $42,862 $40,378
14
Vehicles Per Day 44,835 VPD)
35 VPD
2 (44,8
US - 2M i l l i c h a p
Middlesex
High School
&
US
M a r c u s
- 22
Greenbrook
Regional Center
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US Sal’s
-2
2
Auto
Body
B r o o k ,
44,
835
Veh
icles
Per
Day
G r e e n
-
H o m e s t o r e
US
-2
2
F u r n i t u r e
A s h l e y
$120,491 35 Miles 44,835
16 AVERAGE HOUSEHOLD INCOME TO DOWNTOWN NEW YORK VEHICLES PER DAYA s h l e y
LO CATION OVERVIEW
F u r n i t u r e
METRO
Northern New Jersey consists of Bergen, Hudson, Passaic, Essex, Morris and Union
counties. The region contains roughly 4 million residents in more than 200
municipalities. Bergen county is home to roughly 1 million people, while Essex
County, which includes the city of Newark, is at approximately 800,000 citizens.
H o m e s t o r e
The region is bordered to the east by the Hudson River and New York City, to the
south by Middlesex and Somerset counties, to the west by Warren and Sussex
counties, and to the north by New York state. A large portion of the area is almost
fully developed and densely populated. The region is a part of the New York metro
and is linked to the city by the George Washington Bridge, the Lincoln Tunnel, the
G r e e n
Holland Tunnel, several ferries and commuter rail tunnels.
ECONOMY
B r o o k ,
Northern New Jersey is home to numerous Fortune 500 companies including
Prudential Financial, Merck, PBF Energy and Honeywell International.
The airline industry accounts for a significant share of jobs in the region.
United Airlines has a major presence at Newark Liberty International Airport.
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Trade is a key employment sector, at Port Newark-Elizabeth Marine Terminal
with vehicle imports accounting for a substantial amount of the port’s business.
//
Spillover from Wall Street bolsters finance jobs in Essex, Hudson and Bergen
counties
M a r c u s
SH ARE OF 2016 T O TAL E M PL O Y M E NT
&
M i l l i c h a p
6%%
MANUFACTURING
16%%
17
PROFESSIONAL AND
12%%
14
GOVERNMENT
9%%
8
LEISURE AND HOSPITALITY
7%%
FINANCIAL ACTIVITIES
BUSINESS SERVICES
18
22%
TRADE, TRANSPORTATION
4%%
CONSTRUCTION
+ 21%%
16
EDUCATION AND
2%%
INFORMATION
4%
OTHER SERVICES
AND UTILITIES HEALTH SERVICES
17M i l l i c h a p
LOCATION OVERVIEW
CENTRAL NEW JERSEY
&
METRO HIGHLIGHTS
M a r c u s
Central New Jersey consists of Mercer, Middlesex, Monmouth,
Ocean and Somerset counties. The region includes more than
DIVERSIFYING EMPLOYMENT
150 municipalities, of which the city of Edison in Middlesex
The economy is diversifying from its manufacturing base to include energy,
County is the largest. The state capital, Trenton, is located in
healthcare, pharmaceuticals, tourism, logistics and distribution.
//
Mercer County. The Central New Jersey region is convenient to
both the New York City metro and the Philadelphia metro and
EDUCATED LABOR FORCE
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contains a well-developed interstate network and mass-transit
Roughly 40 percent of residents age 25 and older have a bachelor’s
opportunities.
B r o o k ,
degree; of these, 16 percent also hold a graduate or professional degree.
HIGH BARRIERS TO ENTRY
Expensive land costs, dense development and strict governmental
G r e e n
regulations moderate additional development.
ECONOMY
-
H o m e s t o r e
Many counties in the region consistently rank among the nation’s top 50 for per cap-
ita income. Elevated incomes produce strong retail sales and support a healthy service
industry.
New Jersey is home to 20 Fortune 500 companies in diverse industries from health-
care to energy. Three Fortune 500 companies operate out of Central Jersey: Johnson
& Johnson in New Brunswick, Chubb in Warren and NRG Energy in Princeton. Kinder
F u r n i t u r e
Morgan also operates locally.
Amazon opened a fulfillment center last year in Carteret in Middlesex County; it’s
Amazon’s second facility in the market, growing the region’s distribution sector.
DEMOGR APHICS
DEMOGRAPHICS
A s h l e y
2016 2016 2016 2016 MEDIAN
POPULATION: HOUSEHOLDS: MEDIAN AGE: HOUS EHOLD INCOME:
2.8M 1M 40.4 $78,200
Growth Growth U.S. Median: U.S. Median:
2016-2021*: 2016-2021*:
2.9% 3.2% 37.7 $57,200
18A s h l e y
DEMOGRAPHIC SUMMARY
POPULATION 1 MILE 3 MILES 5 MILES HOUSEHOLDS 1 MILE 3 MILES 5 MILES
F u r n i t u r e
2021 Projection 9,548 79,749 194,551 2021 Projection 3,586 28,422 66,640
2016 Estimate 9,212 77,433 190,194 2016 Estimate 3,453 27,500 64,854
2010 Census 8,983 73,419 181,013 2010 Census 3,352 25,939 61,456
H o m e s t o r e
2000 Census 8,217 68,842 170,093 2000 Census 3,067 24,408 58,552
Current Daytime Population 7,007 60,241 198,621
POPULATION BY PROFILE 1 MILE 3 MILES 5 MILES INCOME 1 MILE 3 MILES 5 MILES
Population By Age 2016 Housing Income
G r e e n
2016 Estimate Total Population 9,212 77,433 190,194 $150,000 or More 19.77% 16.36% 15.88%
Under 20 24.58% 24.40% 25.02% $100,000 - $149,000 21.86% 21.43% 20.51%
B r o o k ,
20 to 34 Years 16.10% 19.06% 20.39% $75,000 - $99,999 11.60% 14.88% 13.82%
35 to 39 Years 5.75% 6.74% 6.78% $50,000 - $74,999 13.86% 16.03% 16.34%
40 to 49 Years 15.47% 15.05% 14.44% $35,000 - $49,999 8.41% 10.22% 9.99%
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50 to 64 Years 23.19% 21.54% 20.41% Under $35,000 17.76% 16.45% 19.12%
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Age 65+ 14.93% 13.22% 12.95% Average Household Income $133,741 $120,491 $117,558
M a r c u s
Median Age 42.67 39.85 38.39 Median Household Income $96,377 $86,879 $82,706
Population 25+ by Education Level Per Capita Income $50,188 $42,862 $40,378
2016 Estimate Population Age 25+ 6,450 54,078 130,161
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Elementary (0-8) 3.88% 3.65% 5.45%
M i l l i c h a p
Some High School (9-11) 4.94% 5.19% 5.71%
High School Graduate (12) 28.64% 29.75% 27.64%
Some College (13-15) 15.93% 16.31% 16.15%
Associate Degree Only 5.75% 6.40% 6.04%
Bachelor’s Degree Only 23.05% 24.19% 23.39%
Graduate Degree 15.05% 13.08% 14.04%
19M i l l i c h a p
DEMOGRAPHIC SUMMARY
&
POPULATION RACE AND ETHNICITY
M a r c u s
In 2016, the population in your selected geography is 9,212. The The current year racial makeup of your selected area is as fol-
population has changed by 12.11% since 2000. It is estimated lows: 74.17% White, 4.51% Black, 0.01% Native American and
that the population in your area will be 9,548.00 five years from 14.40%Asian/Pacific Islander. Compare these to US averages which
now, which represents a change of 3.65% from the current year. are: 70.77% White, 12.80% Black, 0.19% Native American and
//
The current population is 48.71% male and 51.29% female. The 5.36%Asian/Pacific Islander. People of Hispanic origin are counted
median age of the population in your area is 42.67, compare this independently of race.
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to the US average which is 37.68. The population density in your People of Hispanic origin make up 14.86% of the current year
B r o o k ,
population in your selected area. Compare this to the US average of
17.65%.
HOUSEHOLDS
There are currently 3,453 households in your selected geography. HOUSING
G r e e n
The number of households has changed by 12.59% since 2000.
The median housing value in your area was $359,422 in 2016,
It is estimated that the number of households in your area will be
compare this to the US average of $187,181. In 2000, there were
3,586 five years from now, which represents a change of 3.85%
2,326 owner occupied housing units in your area and there were
from the current year. The average household size in your area is
741 renter occupied housing units in your area. The median rent at
-
2.76 persons.
H o m e s t o r e
the time was $774.
INCOME
In 2016, the median household income for your selected geog- EMPLOYMENT
raphy is$96,377, compare this to the US average which is cur- In 2016, there are 3,465 employees in your selected area, this is
rently $54,505. The median household income for your area has also known as the daytime population. The 2000 Census revealed
F u r n i t u r e
changed by 42.94%since 2000. It is estimated that the median that 68.60% of employees are employed in white-collar occupations
household income in your area will be $118,800 five years from in this geography, and 31.67% are employed in blue-collar occupa-
now, which represents a change of 23.27% from the current year. tions. In 2016, unemployment in this area is 3.53%. In 2000, the
average time traveled to work was 32.00 minutes.
The current year per capita income in your area is $50,188, com-
A s h l e y
pare this to the US average, which is $29,962. The current year
average household income in your area is $133,741, compare this
to the US average which is $78,425.
20ASHLEY FURNITURE
HOMESTORE
350 US-22 West - Gre en Bro ok , NJ 0 8 8 1 2
OFFERING MEMORANDUM
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