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301 Meadow Drive, North Tonawanda, NY , 14120
  • Size SF 58,000
  • Built/Renov2004/2023
  • Price/SF$237
  • Lease Start01-23-2004
  • Rent/SF$16.25
  • Lease Type NN+
  • Lot/AC4.39
  • Pop 5MI129,881

13,760,000

  • Cap Rate 6.85%
  • NOI $942,500
  • R. Term/Yrs 9.7
  • Guarantor Corporate
  • # Units 149
  • Recent renovation

  • In location for years

  • Near major nationals

  • Highway close

  • Dense 100M+ pop 5 mi

  • Top 100 MSA

  • Strong demographics

  • Favorable NN+ lease

  • Top performing store

  • Corporate Guarantee

  • ...
  • Tops Market invested nearly $3M into their store renovation in 2023
  • Tenant recently exercised a twelve (12) year lease extension bringing the lease expiration to July 2034
  • Minimal LL responsibilities | Tenant responsible for roof, including replacement
  • Tops fuel center on-site drives additional traffic to the property and is included in the sale
  • Tenant Tops Friendly Markets
  • Guarantor Corporate
  • #Units 149
  • Stock Private

Tops Markets is a leading supermarket retailer in New York and Pennsylvania markets. With over 14,000 employees, 140+ full-service supermarkets including 5 operated by franchisees under the Tops banner, and 59 fuel stations. Tops also operates two distribution facilities in Lancaster and West Seneca, NY. In 1991, the supermarket was acquired by Ahold, a major international food retail conglomerate based in the Netherlands. In 2006, Ahold announced that they would sell TOPS Markets to Morgan Stanley Private Equity. In November 2013, six members of TOPS’ executive team, led by now Chairman and CEO Frank Curci, purchased the company from Morgan Stanley Private Equity, returning TOPS back to complete local ownership. In November of 2021, Tops Markets and Price Chopper/Market 32 announced the closure of their merger. Under this agreement, Northeast Grocery Inc. would become the two stores’ parent company with the two brands keeping and maintaining their unique brand identities. Now at almost 300 stores, the merger vastly increased the two grocers’ collective footprint in the northeast. Tops Friendly Markets is headquartered in Williamsville, NY.

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