AT&T - Newark, NY
AT&T with Guarantee from Largest Authorized Retailer in U.S. | 7.06% CAP | 1,600 SF
Marketing description
Marcus & Millichap is pleased to exclusively offer for sale a freestanding AT&T store operated by Prime Communications, the largest AT&T Authorized Retailer in the United States. The subject property is located at 229 West Union Street in Newark, New York. The AT&T features a triple-net lease, with landlord responsibilities only consisting of roof and structure repair/replacement. This 1,600-square-foot, freestanding building fronts West Union Street, which sees 10,307 vehicles per day. The AT&T site is located along the main thoroughfare of Newark.
The original move-in date was 2016, and the current term extends five years from closing. The tenant has two five-year renewal options with 10 percent increases per renewal option. The lease is guaranteed by Prime Comms Retail, LLC, the largest AT&T authorized retailer in the nation (2,000 locations).
Investment highlights
- Lease Guaranteed by Prime Comms Retail LLC: Largest AT&T Authorized Retailer in the United States
- Located Along Main Thoroughfare of Newark, New York
- Frontage to West Union Street
- Triple-Net Lease
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