4216-4220 Delaware Ave
Tonawanda, NY 14150
Rite Aid Anchored Del-Ton Plaza | Buffalo MSA · Retail Property For Sale

Marcus & Millichap, on behalf of ownership as its exclusive advisor, is pleased to bring to market Del-Ton Plaza in Tonawanda, New York. Del-Ton Plaza is a 55,473-square-foot neighborhood shopping strip that is currently 100 percent occupied by a complementary roster of longstanding national, regional, and local tenants. The center is anchored by Valu Home Centers, which comprises 35.5 percent of the gross leasable area and is leased through December 2024. Valu Home Centers is a regional chain of home improvement and hardware stores that was established in Buffalo, New York in 1968. They currently operate 41 stores throughout Western New York and Northwestern Pennsylvania, and have been at the subject property for over 28 years, beginning tenancy in 1990. Other prominent tenants at the center include Rite Aid and Dollar Tree, who combine for 43 percent of the gross leasable area. Rite Aid has been at the center for over 33 years, and Dollar Tree has been as the center for 17 years. Rounding out the tenant roster are Subway, Coffee Crazy, The Ideal You Weightloss Center, and Giovanni Hair Fashions. Coffee Crazy just signed a three year extension and Giovanni Hair Fashions has been in-place since 1992. Del-Ton was completely renovated in 2012, including improvements to the facade. Del-Ton Plaza benefits from low turnover and high historical occupancy, with 70 percent of the gross leasable area leased to the same tenants for the past 25 years or longer. The center also benefits from ease of management, with only eight tenants, all of which are leased to triple-net terms and also reimburse for management and/or contribute towards administrative fees, providing over 98 percent overall recovery of landlord operating expenses. Del-Ton Plaza is located along Delaware Avenue, a major corridor that sees 17,000 cars per day directly in front of the subject property. Interstate 290 is just one-tenth mile south of the property, and sees 107,083 cars per day, connecting Interstate 190 to Interstate 90. Del-Ton Plaza is located in a dense infill neighborhood, with 10,573 residents within one mile, 103,003 residents in three miles, and 250,534 residents in five miles. Situated amongst dense residential development adjacent to a major highway, Del-Ton Plaza is easily accessed by pedestrian traffic and public transportation, and has an ideal mix of daily needs retailers, restaurants, and service-oriented businesses. Tonawanda is a northern suburb of Buffalo, and is located seven miles from Downtown Buffalo and twelve miles from Niagara Falls, Ontario, Canada. The Buffalo metropolitan area is home to a population of more than 1.2 million.