1908 W Ridge Rd
Rochester, NY 14615
Verizon Wireless: Greece, NY · Retail Property For Sale

CBRE is pleased to exclusively offer the opportunity to acquire a 5,554–square–foot, corporately–guaranteed Verizon Wireless (NYSE: VZ; S&P: BBB+; Moody’s: Baa1) situated on 0.85 acres in Greece, NY which is part of the Rochester, NY MSA (Population: 1.1 million). Verizon Wireless has ±5.0 years of initial lease term remaining and two 5–year options with 10% rent increases in each option period. The attractive 10% rent increases create the potential for strong cash flow growth over the hold period. The Property has excellent access and visibility at the signalized hard corner of West Ridge Road (Traffic Count: 44,426 VPD) and Fetzner Road (Traffic Count: 12,206 VPD), which is just down from the entrance / exit ramps to Highway–390 (Traffic Count: 87,269 VPD). Verizon Wireless is strategically located in Greece’s main retail corridor, with close proximity to The Mall at Greece Ridge (Anchors: Macy’s, JCPenney, Barnes & Noble, Dick’s Sporting Goods, and Burlington) which drives significant traffic around the site. Other major national retailers in the vicinity include Walmart, Target, Home Depot, Lowe’s, Wegman’s, Michael’s, Marshall’s, Ollie’s Bargain Outlet, Bed Bath & Beyond, Kohl’s, JOANN, PetSmart, PetCo, OfficeMax, At Home, Walgreens, Rite Aid, Dollar Tree, Advance Auto Parts, AutoZone, Sherwin-Williams, Citizens Bank, HSBC, KeyBanc, Starbucks, Buffalo Wild Wings, Red Lobster, Olive Garden, Applebee’s, Ruby Tuesday, Chili’s, Panera Bread, Dunkin’, McDonald’s, and Taco Bell among many others. In total, there are more than 6.1 MSF of retail, 1.5 MSF of office, 8.4 MSF of industrial and 6,908 multifamily housing units within a 3-mile radius of the site. Furthermore, the store serves a large customer base in the immediate surrounding area which has 91,770 residents with an average household income of $64,763 in a 3–mile radius.