2 Technology Dr, Tyngsborough, MA 01879 For Sale

LONG TERM LEASE: Best Friends Pet Care has been at this location since 2018 and has 8+ years remaining on their Absolute NNN Lease with three (3), 5-year renewal options.

SUBSTANTIAL RENT INCREASES: The Best Friends Pet Care lease calls for attractive 1.5% annual rent increases throughout the primary lease term and each of their renewal options, providing the investor with an attractive increase in revenue and a hedge against inflation.

CORPORATE LEASE: The Best Friends Pet Care is corporately leased and operated. Best Friends Pet Care is the country’s first and longest running Play & Stay pet destination, with more than 40 locations nationwide with continued expansion plans for the future.

ZERO LANDLORD RESPONSIBILITIES: Best Friends Pet Care has an Absolute NNN Lease and is responsible for all operating expenses at the Property including real estate taxes, insurance, and common area maintenance, protecting against rising expenses. Best Friends Pet Care is also responsible for the roof, structure and parking lot replacement.

STRATEGIC LOCATION: Best Friends Pet Care is well located at the intersection of Technology Drive and Middlesex Road (MA Route 3A), the area’s primary commuter corridor connecting Lowell, MA and Nashua, NH, the area’s largest markets. The build-to-suit Property has outstanding frontage and visibility and offers convenient access to MA Route 113 and US Highway 3 which provides a direct route to Boston approximately 30 miles to the southeast. The Property is seconds from two large residential communities, Merrimac Commons (64 Duplex Style Townhomes) and The Village at Merrimac Landing (110 condominium units).

RECESSION & E-COMMERCE RESISTANT TENANT: The pet care and pet lodging industries are experiencing significant growth with the U.S. pet care market expected to reach $116.14 billion by 2032. This expansion is fueled by the growing awareness of animal welfare, the availability of diverse pet care products, and the increasing tendency of pet owners to treat their pets as family members. The global pet lodging market, encompassing services like pet hotels and kennels, was valued at $3.9 billion in 2023 and is anticipated to grow to $5.9 billion by 2030, exhibiting a CAGR of 6.1% . This growth is attributed to urbanization, increased disposable incomes, and the rising demand for high-quality pet care services. Modern pet lodging facilities are integrating technological advancements such as real-time monitoring systems and online booking platforms to enhance customer experience.

TRAFFIC COUNTS: Over 9,000 vehicles pass by the Property each day along Middlesex Road (MA Route 3A).

DEMOGRAPHICS: Over 25,900 people live within 3 miles of the Property with an average household income of $153,319. More than 120,300 people live within a 5-mile radius of the Property with an average household income of $146,124. Additionally, there are more than 41,000 employees within 5 miles of the Property.