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Views: 66 DOM: 7 Updated: 09.11.24 Posted: 09.11.24 Status: Active

Summary

Price $4,121,000
Built/Renov 1997
Tenant Global Partners LP
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,032
Lease Start 08-18-2020
#Units 1,627
Price/SF $1,359.17
Expiration 08-17-2030
Tenant Type Convenience/Gas
NOI $247,254
R. Term 5.11
Ownership Fee Simple
Rent/SF $81.55
Increases 1.5%/1/yrs
Pop 5Mi 77,530
Lot/AC 1.26
Options 3/5yrs/1.5%
AHHI 5Mi $201,111

Lease Highlights

  • Global Partners LP has 5+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 1.5% annual rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Global Partners LP is strategically located at the signalized, hard corner intersection of N Easton Road and Swamp Road, with access to a combined daily traffic count of 31,700 vehicles. The property features multiple points of ingress and egress, enhancing accessibility. Dunkin’, recognized as the #1 coffee retailer for customer loyalty, has operated within the site’s convenience store...

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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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Listing Broker

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