1973 Forest Ave
Staten Island, NY 10303
Harley Davidson · Retail Property For Sale

The 8,299 square foot property is strategically positioned on the northwest corner of Forest Avenue and Van Name Avenue. The intersection experiences traffic counts of 20,794 vehicles per day. The property is benefited by its location within a densely populated area and strong regional trade area that features a number of national retailers including The Home Depot, Lowe’s Home Improvement, Kohl’s, TJ Maxx, LA Fitness, Regal Cinemas, HomeGoods, Michaels and a number of quick service restaurants, auto part stores and banks. There are 208,475 people living within a three mile radius of the property earning an average household income of more than $90,000 per year. In 2006, Walgreens originally signed a ground lease through July 2032. In 2017, Walgreens subleased the property to Harley-Davidson of Staten Island. The lease is still guaranteed by Walgreens, an investment grade rated company (S&P: BBB). The Walgreens ground lease runs through July 31, 2032 and features 10% rental escalations every five years throughout the primary term and in each five 5-year renewal option. The Walgreens sublease with Harley-Davidson runs through April 30, 2039 which suggests Walgreens has full intentions to exercise their first two renewal option periods through July 31, 2042.