601 Hamburg Turnpike, Wayne, NJ, USA

UNDER CONTRACT:   Cell At Auction LLC is pleased to offer the opportunity to acquire  a 99 year Site Lease easement of AT&T, T-Mobile and Verizon site leases in Wayne New Jersey.  Wayne is a Township in Passaic County, in the U.S. state of New Jersey. Home to William Paterson University and located less than 20 miles from Midtown Manhattan, the township is a bedroom suburb of New York City and regional commercial hub of North Jersey. 

The AT&T site lease was signed 12/5/22 for five years with four (4) additional five year renewal terms, with an initial rent of $3,600 per month with 3% annual increases. The current annual rent is $47,208.   The Verizon site lease was signed 3/11/13 with an initial rent of $2,600 per month with 3% annual rent increases. The initial term was for five years with four (4) additional five year renewal terms. The current annual rent is $45,816. The T-Mobile site lease was signed on 5/12/03 for five years with three successive five (5) year renewal terms. This is a 3% annual increase.   This lease will expire in 2028. The current annual rent is $35,496. There are no Rights of First Refusal. Offers should be submitted in the form of an executable Letter of Intent.

Published Reserve:   $2,775,000

The Property address is: 601 Hamburg Turnpike, Wayne, New Jersey 07470  

Sealed Bid Deadline:  April 17, 2026

Current Annual Rent:    $126,156.48

Burton Blinick, Licensed Real Estate Managing Broker and Auctioneer