INVESTMENT HIGHLIGHTS
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LONG TERM LEASES: The Property is tenanted by Fed-Ex Office which has been in the center for 20 years and has 4+ years remaining on their lease with one, 5-year option. Bay State Physical Therapy has 5+ years remaining on their lease with two, 5-year options. For Eyes has 6+ years remaining on their lease with two, 5-year options, and Premier Martial Arts has just executed a 10-year lease with 2, 5-year options.
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NET LEASES & RENT INCREASES: All of the tenants have double-net leases with each tenant reimbursing for Common Area Maintenance, Insurance, and Property Taxes. Additionally, all of the leases feature attractive scheduled rent increases providing the investor with a steady increase in revenue and a hedge against inflation.
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STRONG TENANTS: Each Tenant in the Saugus Plaza represents a strong national or regional brand. Fed-Ex Office features a corporate guaranty with an Investment Grade credit rating of BBB (S&P) and Baa2 (Moody’s), Bay State Physical Therapy has more than 90 locations in the greater Boston area, For Eyes Optical has more than 100 locations across the country and recently became a part of GrandVision, the global leader in optical retail. Premier Martial Arts is a well-established business that has more than 100 locations across the country.
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TRADE AREA: Additional retailers driving traffic to the area include Walmart, Target, Home Depot, Lowe’s, Amazon Fresh (under construction), Stop & Shop, Trader Joe’s, Kohl’s, Christmas Tree Shops, Marshalls, Michaels, Home Goods, Staples, Petco, Ocean State Job Lot, Best Buy, Dick’s Sporting Goods, DSW, Ocean State Job Lot, LA Fitness, Planet Fitness, Walgreens, CVS, Buffalo Wild Wings, Applebee’s, 99 Restaurant, Hooters, McDonald’s, Burger King, Wendy’s, Chipotle, Taco Bell, KFC, Jersey Mike’s, Starbucks, and Dunkin’.
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STRONG DEMOGRAPHICS: An impressive 104,500+ people live within 3-miles of the Property with an average household income of $117,343. Over 386,900 people live within a 5-miles of the Property. Additionally, there are more than 137,800 employees within 5-miles of the Property.
EXCLUSIVELY LISTED BY
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BOB HORVATH
Executive Vice President
Direct: (781) 776-4003
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TODD TREMBLAY
Executive Vice President
Direct: (781) 776-4001
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Information concerning the property described herein has been obtained from sources other than Horvath & Tremblay and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information.
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