Steve Schrenk

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Forged Real Estate
Principal

7Active Listings
$35,325,000Active Volume
3Under Contract
$6,145,661Volume
25Closed Transactions
$79,285,954Sold Volume

Steve Schrenk is the co-founder and Principal of Forged Real Estate. Steve specializes in the acquisition and disposition investment advisory services of single-tenant and multi-tenant net lease properties, sale-leasebacks, and small shopping centers throughout the country. Since 2018, Steve has been involved in 300+ transactions totaling over $1 billion in total volume. Steve is a knowledgeable real estate professional with years of experience who prides himself on the team’s client centric and value-add approach. Additionally, he takes a comprehensive approach to fully understand each client’s goals and objectives while becoming ingrained within their business to help successfully execute upon their strategy. Prior to co-founding Forged Real Estate, Steve was a member of HFF’s Net Lease Retail team, and later JLL through JLL’s acquisition of HFF in 2019.

D (610) 608-2621

M (610) 608-2621

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Licensed in: NJ

8 E Germantown Pike, 2nd Floor Plymouth Meeting, PA 19462

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Chipotle

2555 Easton Avenue, Bethlehem, PA , 18017

Size SF2,736
Built/Renov1980/2025
Price/SF$1,207
Lease Start02-07-2025
Rent/SF$63.96
Lease Type Double NN
Lot/AC1.13
Pop 5MI156,320

nicole overton

(610) 608-2621

marc mandel

(610) 608-2621

steve schrenk

(610) 608-2621

3,302,000

Cap Rate 5.30%
NOI $175,000
R. Term/Yrs 14.7
Guarantor Corp Traded
# Units 3,636

View CONTACT

Re-purpose building
Recent building upgrades
Dense retail corridor
Near major nationals
University college close
Dense 100M+ pop 5 mi
Affluent AHHI $100K 5 Mi
Brand new lease
Long 15+ yr lease
Corporate Guarantee

...

Tenant Chipotle Mexican Grill
Guarantor Corp Traded
#Units 3,636
Stock NYSE: CMG

Citizens Bank

415 Stokes Road, Medford, NJ , 08055

Size SF3,000
Built/Renov2000
Price/SF$896
Lease Start07-01-2000
Rent/SF$60.51
Lease Type NN+
Lot/AC1.24
Pop 5MI64,058

nicole overton

(610) 608-2621

marc mandel

(610) 608-2621

steve schrenk

(610) 608-2621

2,689,000

Cap Rate 6.75%
NOI $181,521
R. Term/Yrs 4.11
Guarantor Corp R + T
# Units 1,078

View CONTACT

Signalized intersection
In location for years
Dense retail corridor
Near major nationals
Strategically located
Affluent AHHI $100K 5 Mi
Affluent suburb location
Major MSA
Population increase trend
Long 20+ yr lease

...

Tenant Citizens Bank
Guarantor Corp T and Rated
#Units 1,078
Moody's/S&P A3/ A-
Stock NYSE: CFG

Aldi

1065 Woodland Road, Wyomissing, PA , 19610

Size SF22,940
Built/Renov1997/2022
Price/SF$290
Lease Start06-03-2023
Rent/SF$15.97
Lease Type Double NN
Lot/AC0.56
Pop 5MI203,234

nicole overton

(610) 608-2621

marc mandel

(610) 608-2621

steve schrenk

(610) 608-2621

6,660,000

Cap Rate 5.50%
NOI $366,298
R. Term/Yrs 12.11
Guarantor Any
# Units 2,427

View CONTACT

Signalized intersection
Major thoroughfare
Dense retail corridor
Big Box center
Strategically located
Dense 200M+ pop 5 mi
Strong demographics
Affluent suburb location
Population increase trend
Long 15+ yr lease

...

Tenant Aldi
Guarantor Any
#Units 2,427

Walgreens

3601 16th Street, Moline, IL , 61265

Size SF15,120
Built/Renov2002
Price/SF$270
Lease Start10-01-2002
Rent/SF$20.93
Lease Type Abs NNN
Lot/AC1.70
Pop 5MI133,833

nicole overton

(610) 608-2621

brian brockman

(513) 898-1551

marc mandel

(610) 608-2621

steve schrenk

(610) 608-2621

4,084,000

Cap Rate 7.75%
NOI $316,492
R. Term/Yrs 11.2
Guarantor Corp R + T
# Units 12,500

View CONTACT

Hard corner intersection
In location for years
Dense retail corridor
Strategically located
Central metro location
Highway close
Dense 100M+ pop 5 mi
Major MSA
Long 20+ yr lease
Long operation history

...

Tenant Walgreens
Guarantor Corp T and Rated
#Units 12,500
Moody's/S&P Ba3/ BB
Stock NASDAQ: WBA

Global Partners LP

3611 North Easton Road, Doylestown, PA , 18902

Size SF3,032
Built/Renov1997
Price/SF$1,293
Lease Start08-18-2020
Rent/SF$82.77
Lease Type Abs NNN
Lot/AC1.26
Pop 5MI77,530

marc mandel

(610) 608-2621

steve schrenk

(610) 608-2621

3,921,000

Cap Rate 6.40%
NOI $250,963
R. Term/Yrs 5.0
Guarantor Corp R + T
# Units 1,627

View CONTACT

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Top 100 MSA
Affluent AHHI $100K 5 Mi
Absolute NNN
Accelerated depreciation
Traded and rated company
Corporate Guarantee

...

Tenant Global Partners LP
Guarantor Corp T and Rated
#Units 1,627
Moody's/S&P B1/ B+
Stock NYSE: GLP

Wawa (GL)

580 U.S. 1, Edison, NJ , 08817

Size SF4,736
Built/Renov2021
Price/SF$1,482
Lease Start08-19-2021
Rent/SF$77.81
Lease Type Abs NNN
Lot/AC1.99
Pop 5MI295,751

marc mandel

(610) 608-2621

steve schrenk

(610) 608-2621

7,019,000

Cap Rate 5.25%
NOI $368,500
R. Term/Yrs 16.1
Guarantor Corporate
# Units 1,050

View CONTACT

New construction
Hard corner intersection
High traffic 50M+ VPD
Highway location
Top 100 MSA
Strong demographics
Long 15+ yr lease
Absolute NNN
Accelerated depreciation
Corporate Guarantee

...

Tenant Wawa
Guarantor Corporate
#Units 1,050
Stock Private

Pennsylvania Dept. of Conservation & Natural Resources

3240 Schoolhouse Road, Middletown, PA , 17057

Size SF40,671
Built/Renov1981/2022
Price/SF$188
Lease Start08-12-2022
Rent/SF$15.99
Lease Type Double NN
Lot/AC13.14
Pop 5MI75,271

marc mandel

(610) 608-2621

steve schrenk

(610) 608-2621

7,650,000

Cap Rate 8.50%
NOI $650,262
R. Term/Yrs 7.0
Guarantor Corp Rated
# Units 1

View CONTACT

Recent renovation
Build to suit
Near major nationals
Strategically located
Freeway close
Top 100 MSA
Affluent AHHI $100K 5 Mi
Corporate Guarantee
Investment grade tenant
Credit rated company

...

Tenant PA Dept. of Conservation
Guarantor Corp Rated
#Units 1
Stock Private

Filters63 Results

Price: $3,350,000 - $5,750,000 ×
Cap Rate: 5,000% - 7,000% ×
Price/SF: $552 - $1025 ×
Year Built: 1984 - 2016 ×
Lease Type: Any ×
Guarantor: 1 Unit - Corp AAA ×
R. Term Yrs/Mos: 6/06-25 ×
Building Size/SF: 150,000F - 254,000F ×
Population 5 Miles: 35,500 - 75,500 ×
AHHI 5Miles: $56,000 - $105,000 ×

Save Export

Type

Tenant

City

Price

Cap Rate

NOI

Size/SF

Price/SF

Rent/SF

Built/Renov

Lot/AC

Lease Type

Guarantor

# Units

Credit S&P

R Term
(Yrs)

Pop (5Mi)
(000)

$ AHHI (5Mi)
(000)

Traffic Count
(000)

Brokerage

Status

Added

Update

DOM

Contact Broker

Listing Broker(s)

Fast Casual/Rest.

Chipotle


View OM

Bethlehem

$3,302,000

5.30%

$175,000

2,736

$1,207

$63.96

1980/2025

1.13

Double NN

Corp Traded

3,636

Not Rated

14.7

156,320

$105,372

15,800

Forged Real Estate

07.01.2025

nicole overton
marc mandel

Bank/Financial

Citizens Bank


View OM

Medford

$2,689,000

6.75%

$181,521

3,000

$896

$60.51

2000

1.24

NN+

Corp T + R

1,078

A-

4.11

64,058

$176,642

15,000

Forged Real Estate

07.01.2025

nicole overton
marc mandel

Grocery

Aldi


View OM

Reading

$6,660,000

5.50%

$366,298

22,940

$290

$15.97

1997/2022

0.56

Double NN

Any

2,427

Not Rated

12.11

203,234

$89,194

25,900

Forged Real Estate

07.01.2025

nicole overton
marc mandel

Pharmacy

Walgreens


View OM

Moline

$4,084,000

7.75%

$316,492

15,120

$270

$20.93

2002

1.70

Absolute NNN

Corp T + R

12,500

11.2

133,833

$82,165

30,700

Forged Real Estate

07.01.2025

nicole overton
brian brockman

Convenience/Gas

Global Partners LP


View OM

Doylestown

$3,921,000

6.40%

$250,963

3,032

$1,293

$82.77

1997

1.26

Absolute NNN

Corp T + R

1,627

B+

5.0

77,530

$201,111

31,700

Forged Real Estate

09.11.2024

07.01.2025

322

marc mandel
steve schrenk

Convenience/Gas

Wawa (GL)


View OM

Edison

$7,019,000

5.25%

$368,500

4,736

$1,482

$77.81

2021

1.99

Absolute NNN

Corporate

1,050

Not Rated

16.1

295,751

$130,433

94,800

Forged Real Estate

09.11.2024

07.01.2025

322

marc mandel
steve schrenk

Government

Pennsylvania Dept. of Conservation &
Natural Resources


View OM

Middletown

$7,650,000

8.50%

$650,262

40,671

$188

$15.99

1981/2022

13.14

Double NN

Corp Rated

Not Rated

7.0

75,271

$103,671

35,900

Forged Real Estate

09.10.2024

07.01.2025

323

marc mandel
steve schrenk

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Steve Schrenk

2555 Easton Avenue, Bethlehem, PA , 18017

3,302,000

415 Stokes Road, Medford, NJ , 08055

2,689,000

1065 Woodland Road, Wyomissing, PA , 19610

6,660,000

3601 16th Street, Moline, IL , 61265

4,084,000

3611 North Easton Road, Doylestown, PA , 18902

3,921,000

580 U.S. 1, Edison, NJ , 08817

7,019,000

3240 Schoolhouse Road, Middletown, PA , 17057

7,650,000

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Steve Schrenk

2555 Easton Avenue, Bethlehem, PA , 18017

3,302,000

415 Stokes Road, Medford, NJ , 08055

2,689,000

1065 Woodland Road, Wyomissing, PA , 19610

6,660,000

3601 16th Street, Moline, IL , 61265

4,084,000

3611 North Easton Road, Doylestown, PA , 18902

3,921,000

580 U.S. 1, Edison, NJ , 08817

7,019,000

3240 Schoolhouse Road, Middletown, PA , 17057

7,650,000

Filters63 Results

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