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Views: 124 DOM: 465 Updated: 11.25.24 Posted: 08.26.23 Status: Active

Summary

Price $1,825,000
Built/Renov 1990
Tenant Global Partners LP
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 1,647
Lease Start 08-18-2020
#Units 1,627
Price/SF $1,108.08
Expiration 08-17-2035
Tenant Type Convenience/Gas
NOI $100,447
R. Term 10.8
Ownership Fee Simple
Rent/SF $60.99
Increases 1.5%/1/yrs
Pop 5Mi 200,409
Lot/AC 0.53
Options 3/5yrs/1.5%
AHHI 5Mi $121,639

Lease Highlights

  • Global Partners LP has 10+ years remaining on their current lease with 3 (5-year) options to extend
  • Lease features 1.50% annual rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease (NYSE: GLP) | (S&P: B+)

Location Description

Global Partners is strategically located at the signalized, hard-corner intersection of New Falls Rd. and Woodbourne Rd., benefiting from a high daily traffic count of 48,700 vehicles passing by daily. The subject property boasts excellent visibility with significant street frontage and multiple large pylon signs. Additionally, it benefits from convenient access to major highways, including...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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

About Tenant

Global Partners LP (NYSE: GLP) is a master limited partnership and one of the largest independent owners, suppliers and operators of gasoline stations and convenience stores in the Northeast...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 16,083 92,612 199,839
2023 Total Population : 16,249 92,571 200,409
2023 Employed Civilian Pop : 9,500 50,450 110,337
2023 Total Businesses : 237 3,141 6,308
2023 Average Household Income : $ 110,183 $ 108,729 $ 121,639
2023 Total Consumer Spending : $ 515 M $ 3213 M $ 7945 M
2023 Median Age : 41 41 42
2023 Total Households : 5,523 34,700 76,887
2023 Pop Age 25+: Bachelor's Degree : 2,189 13,146 31,935
2023 Average Home Value : $ 300,619 $ 324,982 $ 364,566
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Edgely Rd Quarry Rd 2017 13,138 0.04 mi
New Falls Road Edgely Rd 2020 6,554 0.09 mi
Edgely Rd Red Cedar Dr 2017 14,008 0.31 mi
Edgely Road Goldenridge Way 2021 14,752 0.50 mi
Edgely Road Goldenridge Way 2019 13,722 0.50 mi
New Falls Road Red Cedar Dr 2021 14,838 0.56 mi
New Falls Road Appletree Dr 2020 13,108 0.56 mi
Woodbourne Road Cobalt Ridge Dr N 2021 13,546 0.63 mi
New Falls Road Indian Creek Dr 2020 6,861 0.65 mi
Mill Creek Pkwy Edgely Rd 2019 14,983 0.96 mi

Listing Broker

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