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INVESTMENT HIGHLIGHTS
OPERATING HISTORY & SITE COMMITMENT: Global Partners LP has been at this location since acquiring from Mobil Oil in 2010. In 2022, they elected to extend their lease through June 23, 2033, demonstrating their commitment to the site and the market. There are over 8 years of term remaining followed by two, 5-year renewal options. The lease features an attractive ten (10%) percent rent increase in 2028 and at the start of each renewal option, providing a steady increase in income and an attractive hedge against inflation. Global Partners LP has an Absolute NNN Ground Lease and requires zero landlord responsibilities. The tenant is solely responsible for all service, maintenance, repairs, and replacements, making it an attractive investment for the passive real estate investor.
CORPORATE LEASE: Global Partners LP (NYSE: GLP) is a publicly traded energy supply company headquartered in Waltham, Massachusetts. The company operates approximately 1,700 retail gas stations and convenience stores in addition to one of the largest terminal networks of petroleum products and renewable fuels in the Northeast. Global Partners LP reported FY 2023 Revenue of $16.49 billion.
STRATEGIC RETAIL LOCATION: The Property is strategically located at the signalized intersection of South Street and Outlet Boulevard, directly across the street from the Wrentham Village Premium Outlets. The Property enjoys outstanding visibility, signage, and frontage with a dedicated traffic light at the intersection. The Property is the only gas station directly serving the Wrentham Village Outlets and is less than 1,000 feet from the Interstate 495 off-ramp.
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