Shopping Center Property For Sale - Rite Aid Master Leased Shopping Center|10.60% C/C!

194 North Street, Bennington, VT, 05201

 

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Rite Aid Master Leased Shopping Center|10.60% C/C!

194 North Street, Bennington, VT 05201

Attractive Financing!
  • $5,046,747
  • 26,695 SF
  • $189.05
  • Shopping Center
  • Neighborhood Center
  • Net Lease Investment with 10+ years left on lease
  • 8.30%
  • 100%
  • Multiple
  • 1986
  • 2.21 AC
  • Find Out More...
Last Verified  11/4/2009 Listing ID  16245318

Highlights

  • Newer Construction, New 20 Year Net Lease- Zero Landlord Obligations
  • Rite Aid Corp. upgraded to Outperform by Raymond James Financial
  • Rite Aid completed refinancing of debt and there is no long term debt due through 2016
  • Rite Aid (NYSE: RAD) Corporate Lease w/ Scheduled 10% Increases
  • Year One Cash on Cash Return is: 10.60%
  • Rite Aid Corp. shares are up over 225% since April

Description

This offering is the rare opportunity for an investor to acquire an absolute net leased Rite Aid asset with a brand new 20 year lease. The lease term is 20 years with a 10% bump every 10 years. The lease is net and provides for zero landlord responsibilities.

Rite Aid Corp. (NYSE: RAD) Highlights:

*Rite Aid Corp. upgraded to Outperform by Raymond James

*Rite Aid Corp. shares are up over 225% since April

*Rite Aid Corporation enjoys over $26b in Annual Sales

*Rite Aid Corp. has experienced an upward trend in stock price since mid-March 2009

*Rite Aid Corp. reported Same Store Sales Increase for May 2009

*Recently, Rite Aid (NYSE: RAD) announced that it has successfully completed its previously announced refinancing of the majority of its September 2010 debt maturities, including its $145 million Tranche 1 Term Loan and $1.75 billion senior secured revolving credit facility.

*Standard & Poor's Ratings Service raised the outlook of Rite Aid Corp. to "Stable" July 21 saying the drugstore operator is in a better position after refinancing much of its debt.

Bennington is a town in Bennington County, Vermont. It is one of two shire towns (county seats) of the county, the other being Manchester. The population was 15,737 at the 2000 census. By population, Bennington is the largest town in Southern Vermont, the third-largest town in Vermont (after Essex and Colchester), and the sixth-largest municipality in the state (after Burlington, Essex, Rutland, Colchester, and South Burlington). Bennington is home to the Bennington Battle Monument, which is the tallest structure in the state of Vermont.

Financial Summary

Debt & Equity Information

  • Actual
  • 2009
  • $418,880
  • $267,478

Map of 194 North Street, Bennington, VT 05201 (Bennington County)

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Presented by

The Kase Group

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Lindsey Lantis (831) 566-6270
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Created 5/20/2009

Additional Information for 194 North Street, Bennington, VT 05201

  • Active For Sale - 1 Listing
  • Active For Lease - 0 Listing
  • Previously Listed - 1 Historic Listing
  • Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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