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INVESTMENT HIGHLIGHTS
THE ASSET: The Property consists of three (3), freestanding single tenant buildings and is 100% leased to Aldi, M&T Bank, and Chipotle. Aldi has 12+ years remaining on their Absolute NNN Ground Lease with three, 5-year renewal options. M&T Bank has 6+ years remaining on their Triple Net Lease with three, 5-year renewal options, and the new construction Chipotle has 15 years remaining on their Absolute NNN Ground Lease with four, 5-year options.
EXPENSE PROTECTION & SCHEDULED INCREASES: The Tenants are responsible for their pro-rata share of real estate taxes, insurance and common area maintenance, offering ease of management and protecting the owner from rising expenses. Additionally, each of the tenants have scheduled rent increases in their primary lease terms and at the start of each of their renewal options.
LOCATION: The three-tenant property is extremely well located along Boston Post Road (US Route 1) and is positioned across the street from a Stop & Shop anchored shopping center and is adjacent to an Ocean State Job Lot and CVS, all of which drive traffic to the immediate area. Additionally, the Property is seconds from several schools including Waterford High School and Science & Technology Magnet High School of Southeastern Connecticut, both of which provide a built-in customer base. Waterford is a desirable shoreline community and is just minutes from Downtown New London, southeastern Connecticut’s largest city and economic hub. Waterford is a shoreline town with miles of beautiful coastline and a wide variety of local restaurants, retailers, and recreational facilities. The area also offers proximity to a wide variety of prestigious colleges and universities located in the New London MSA.
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