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Rite Aid Master Leased Shopping Center|10.60% C/C!
194 North Street, Bennington, VT 05201
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.
Actual
2009
$418,880
$267,478
Proposed
$2,523,374
6%
$151,400
$2,523,374
Interest only Financing
Map of 194 North Street, Bennington, VT 05201 (Bennington County)
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.
The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.