New 20 Year NNN Ground Lease Lowe’s Home Improvement Warehouse
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This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. For more information, contact: Robert James, Managing Director 280 Park Avenue, 11 th Floor, New York, NY 10017 [email protected] Phone 212-972-7457 Fax 212-972-7496 www.kimcoexchangeplace.com Investment Opportunity Kimco Exchange Place is a subsidiary of Kimco Realty Corporation. New 20 Year NNN Ground Lease Lowe’s Home Improvement Warehouse Elmira Street, Sayre, PA 18840 Property Summary: This 111,371 square foot building is situated on 12.5 acres and has 431 parking spaces. The property is located between Wal-Mart and Kmart. Sayre is located in Northeastern Pennsylvania, just south of the New York/Pennsylvania border, and is the gateway to the rich tourist region of the Southern Tier of New York. Sayre is located within 1 hour of Ithaca, Binghamton, and Elmira, New York. Sayre is within 100 miles of Scranton, Pennsylvania and approximately 200 miles from New York City. Area retailers include Wal-Mart, Kmart, Rite Aid, CVS and Aldi among others. If a buyer is represented by a buyer’s broker, then that broker must be compensated by the buyer. Price: We offer this property at $6,228,832 (price is firm) which is a 6.25% cap rate on NOI of $389,302. Acreage: 12.5 Term: 20 Year Lease Lease Commencement: 11/28/2006 Lease Expiration: 11/30/2026 Size: 111,371 square feet plus a garden center Rent: $389,302 Flat during base term ($3.50 psf) Options: 8 (5) Year options with 10% escalations every 5 years Tenant: Lowe’s Home Centers, Inc., a North Carolina Corporation (S&P: A+): Lowe's Companies, Inc. (Lowe's) is a home improvement retailer, with specific emphasis on retail do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers who utilize its’ installation services, and commercial business customers. The Company offers a complete line of products and services for home decorating, maintenance, repair, remodeling and maintenance of commercial buildings. Its’ stores feature a home fashion and interior design center; a lawn and garden center; an appliance center; an outdoor power equipment center; an outdoor grill and patio furniture specialty shop; a hardware store; an air conditioning, heating, plumbing and electrical supply center; a lumber yard, and building materials center. With fiscal year 2005 sales of $43.2 billion, Lowe’s Companies, Inc. is a FORTUNE® 50 company that serves approximately 12 million customers a week at more than 1,250 home improvement stores in 49 states. Based in Mooresville, N.C., the 60-year old company is the second-largest home improvement retailer in the world. Lease Type: This is an absolute triple net ground lease. The tenant constructed and paid for the building. Upon lease expiration, ownership of the building reverts to the owner of the land. Landlord has absolutely no maintenance, repair or replacement responsibility for the building or land, such responsibility being solely that of the tenant.
Transcript of New 20 Year NNN Ground Lease Lowe’s Home Improvement Warehouse
This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
For more information, contact:Robert James, Managing Director
280 Park Avenue, 11th Floor, New York, NY 10017 [email protected]
Phone 212-972-7457 Fax 212-972-7496www.kimcoexchangeplace.com
Investment Opportunity
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.
New 20 Year NNN Ground Lease
Lowe’s Home Improvement WarehouseElmira Street, Sayre, PA 18840
Property Summary:This 111,371 square foot building is situated on 12.5 acres and has 431 parking spaces. The property is located between Wal-Mart and Kmart. Sayre is located in Northeastern Pennsylvania, just south of the NewYork/Pennsylvania border, and is the gateway to the rich tourist region of the Southern Tier of New York. Sayre is located within 1 hour of Ithaca, Binghamton, and Elmira, New York. Sayre is within 100 miles of Scranton, Pennsylvania and approximately 200 miles from New York City. Area retailers include Wal-Mart, Kmart, Rite Aid, CVS and Aldi among others. If a buyer is represented by a buyer’s broker, then that broker must be compensated by the buyer.
Price:We offer this property at $6,228,832 (price is firm) which is a 6.25% cap rate on NOI of $389,302.
Acreage: 12.5Term: 20 Year LeaseLease Commencement: 11/28/2006Lease Expiration: 11/30/2026Size: 111,371 square feet plus a garden center Rent: $389,302 Flat during base term ($3.50 psf)Options: 8 (5) Year options with 10% escalations every 5 years
Tenant:Lowe’s Home Centers, Inc., a North Carolina Corporation (S&P: A+):Lowe's Companies, Inc. (Lowe's) is a home improvement retailer, with specific emphasis on retail do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers who utilize its’ installation services, and commercial business customers. The Company offers a complete line of products and services for home decorating, maintenance, repair, remodeling and maintenance of commercial buildings. Its’ stores feature a home fashion and interior design center; a lawn and garden center; an appliance center; an outdoor power equipment center; an outdoor grill and patio furniture specialty shop; a hardware store; an air conditioning, heating, plumbing and electrical supply center; a lumber yard, and building materials center. With fiscal year 2005 sales of $43.2 billion, Lowe’s Companies, Inc. is a FORTUNE® 50 company that serves approximately 12 million customers a week at more than 1,250 home improvement stores in 49 states. Based in Mooresville, N.C., the 60-year old company is the second-largest home improvement retailer in the world.
Lease Type:This is an absolute triple net ground lease. The tenant constructed and paid for the building. Upon lease expiration, ownership of the building reverts to the owner of the land. Landlord has absolutely no maintenance, repair or replacement responsibility for the building or land, such responsibility being solely that of the tenant.
Property Summary:This 111,371 square foot building is situated on 12.5 acres and has 431 parking spaces. The property is located between Wal-Mart and Kmart. Sayre is located in Northeastern Pennsylvania, just south of the NewYork/Pennsylvania border, and is the gateway to the rich tourist region of the Southern Tier of New York. Sayre is located within 1 hour of Ithaca, Binghamton, and Elmira, New York. Sayre is within 100 miles of Scranton, Pennsylvania and approximately 200 miles from New York City. Area retailers include Wal-Mart, Kmart, Rite Aid, CVS and Aldi among others. If a buyer is represented by a buyer’s broker, then that broker must be compensated by the buyer.
Price:We offer this property at $6,228,832 (price is firm) which is a 6.25% cap rate on NOI of $389,302.
Acreage: 12.5Term: 20 Year LeaseLease Commencement: 11/28/2006Lease Expiration: 11/30/2026Size: 111,371 square feet plus a garden center Rent: $389,302 Flat during base term ($3.50 psf)Options: 8 (5) Year options with 10% escalations every 5 years
Tenant:Lowe’s Home Centers, Inc., a North Carolina Corporation (S&P: A+):Lowe's Companies, Inc. (Lowe's) is a home improvement retailer, with specific emphasis on retail do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers who utilize its’ installation services, and commercial business customers. The Company offers a complete line of products and services for home decorating, maintenance, repair, remodeling and maintenance of commercial buildings. Its’ stores feature a home fashion and interior design center; a lawn and garden center; an appliance center; an outdoor power equipment center; an outdoor grill and patio furniture specialty shop; a hardware store; an air conditioning, heating, plumbing and electrical supply center; a lumber yard, and building materials center. With fiscal year 2005 sales of $43.2 billion, Lowe’s Companies, Inc. is a FORTUNE® 50 company that serves approximately 12 million customers a week at more than 1,250 home improvement stores in 49 states. Based in Mooresville, N.C., the 60-year old company is the second-largest home improvement retailer in the world.
Lease Type:This is an absolute triple net ground lease. The tenant constructed and paid for the building. Upon lease expiration, ownership of the building reverts to the owner of the land. Landlord has absolutely no maintenance, repair or replacement responsibility for the building or land, such responsibility being solely that of the tenant.
This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
For more information, contact:Robert James, Managing Director
280 Park Avenue, 11th Floor, New York, NY 10017 [email protected]
Phone 212-972-7457 Fax 212-972-7496www.kimcoexchangeplace.com
Investment Opportunity
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.
Not Subject Property
This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
For more information, contact:Robert James, Managing Director
280 Park Avenue, 11th Floor, New York, NY 10017 [email protected]
Phone 212-972-7457 Fax 212-972-7496www.kimcoexchangeplace.com
Investment Opportunity
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.
This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
For more information, contact:Robert James, Managing Director
280 Park Avenue, 11th Floor, New York, NY 10017 [email protected]
Phone 212-972-7457 Fax 212-972-7496www.kimcoexchangeplace.com
Investment Opportunity
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.
This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
For more information, contact:Robert James, Managing Director
280 Park Avenue, 11th Floor, New York, NY 10017 [email protected]
Phone 212-972-7457 Fax 212-972-7496www.kimcoexchangeplace.com
Investment Opportunity
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.
2 Hour Drive Time
This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
For more information, contact:Robert James, Managing Director
280 Park Avenue, 11th Floor, New York, NY 10017 [email protected]
Phone 212-972-7457 Fax 212-972-7496www.kimcoexchangeplace.com
Investment Opportunity
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.
This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
For more information, contact:Robert James, Managing Director
280 Park Avenue, 11th Floor, New York, NY 10017 [email protected]
Phone 212-972-7457 Fax 212-972-7496www.kimcoexchangeplace.com
Investment Opportunity
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.
Sayre, PA
Demographics 511 North Elmira StreetSayre, PA
2005 Estimates 5 Mile 10 Mile 15 MileTotal Population: 21,992 34,373 62,574Total Households: 9,204 13,964 24,772Avg. HH Income: $50,320 $49,751 $48,784Med. HH Income: $39,392 $39,955 $39,656
Updates of 2000 Census Data by Claritas.
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Southport
orseheads
Sayre
st Elmira
Waverly
mira HeightsOwego
Athens
Towanda
rseheads North
Troy
Spencer
Wellsburg
Van Etten
Nichols
Rome
vaniaBurlington
17C
17
199
220
34
15.00 Miles
10.00 Miles
5.00 Miles
2005 Average IncomeBy Block Groups
$50,000 or more$45,000 to $50,000$35,000 to $45,000$25,000 to $35,000Less than $25,000
