110 Grill
Retail | 7.00% CAP | 5,812 SqFt
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the condominium interest in 110 Grill, a single tenant investment property located at 170 Forbes Road in Braintree, Massachusetts (“the Property”). 110 Grill is operating under a 20-year Absolute NNN Lease that commenced in 2023. Currently there are 16+ years of term remaining followed by four (4), 5-year renewal options. The lease calls for attractive annual rent increases throughout the base term and the renewal options.
110 Grill is well located along Forbes Road and is seconds from the intersection of Granite Street and Interstate 93. The Property features excellent frontage and visibility along Forbes Road and is clearly visible from Interstate 93. 110 Grill is part of a two-unit condominium and shares the lot with a 139-room Residence Inn (Marriott), which provides a built-in customer base. The immediate area is home to the South Shore Plaza, the premier shopping destination south of Boston, as well as countless national retailers and restaurants, and office and industrial parks, all of which drive traffic to the area. The Property is close to the area’s primary roadways, several nationally branded hotels, area schools, and densely populated residential neighborhoods.
Investment highlights
LONG TERM LEASE: 110 Grill has been at this property since it was constructed in 2017. 110 Grill is operating under a 20-year Absolute NNN Lease that commenced in 2023. Currently there are 16+ years of term remaining followed by four (4), 5-year renewal options.
ATTRACTIVE RENT INCREASES: The lease features attractive 1% annual rent increases in lease years 3 through 5, and 1.5% annual increases beginning in year 6 and continuing throughout the primary lease term as well as through the renewal options, providing the investor with an attractive hedge against inflation.
ZERO LANDLORD RESPONSIBILITIES: 110 Grill has an Absolute NNN Lease that requires zero landlord responsibilities. The tenant is solely responsible for all service, maintenance, repairs, and replacements, making it an attractive investment for the passive real estate investor.
RAPIDLY EXPANDING BRAND: 110 Grill is a rapidly expanding restaurant chain specializing in modern American cuisine served in a trendy, casual atmosphere. Founded in 2014 and headquartered in Westford, Massachusetts, the brand has garnered recognition for its commitment to allergy-friendly dining, offering a full menu that is entirely gluten-free. 110 Grill operates 41 locations across five states: Massachusetts, New Hampshire, New York, Connecticut, and Rhode Island
STRATEGIC RETAIL LOCATION: 110 Grill enjoys outstanding visibility and frontage along both Forbes Road and Interstate 93 which sees more than 207,000 vehicles per day. 110 Grill is adjacent to Residence Inn Boston Braintree, a 139-room hotel, and is seconds from Granite Street (MA Route 37) and Interstate 93. The Property is also convenient to MA Routes 3, 28 and 24, the area’s primary commuter corridors. The immediate area is home to the South Shore Plaza, the premier shopping destination south of Boston, as well as countless national retailers and restaurants, all of which drive traffic to the area. 110 Grill is surrounded by several nationally branded hotels, office and industrial parks, and densely populated residential neighborhoods that provide a built-in and captive customer base.
SOUTH SHORE PLAZA: South Shore Plaza, located at 250 Granite Street in Braintree, Massachusetts, is the premier shopping and dining destination south of Boston offering over 200 retailers, and is one of the largest shopping malls in New England, boasting over 1.5 million square feet of retail space. South Shore Plaza has a diverse tenant roster including Macy’s, Target, Primark, DSW, Apple, Coach, Uniqlo, H&M, Sephora, Foot Locker, Pandora, Miltons and Kay Jewelers. South Shore Plaza has recently welcomed several new retailers, such as Uniqlo, Akira, BoxLunch, Golf Lounge 18, Earthbound Trading, Turmeric House, and Pho & Dough, enhancing its appeal to a broad customer base. Beyond shopping, South Shore Plaza offers a variety of dining options and entertainment venues, making it a comprehensive destination for visitors. The mall's strategic location just south of Boston and its extensive selection of stores and services contribute to its status as a premier shopping and dining hub in the region.
RETAIL TRADE AREA: Additional retailers and attractions driving traffic to the area include the South Shore Plaza (Macy’s, Target, Primark, DSW, Apple, Coach, Uniqlo, H&M, Sephora, Uniqlo), AMC Braintree (Movie Theater), Dave & Buster’s, Burlington, Shaw’s, Marshalls, Homesense, TJ Maxx, Home Goods, Planet Fitness, Panera, IHOP, Legal Sea Foods, Chili’s, Qdoba, McDonald’s, Dave’s Hot Chicken, Five Guys, Ben & Jerry’s, and Cumberland Farms.
OUTSTANDING TRAFFIC COUNTS: The Property is adjacent to and clearly visible from Interstate 93, which sees more than 207,000 vehicles per day.
STRONG DEMOGRAPHICS: More than 94,300+ people live within 3 miles of the Property with an average household income of $146,369. An impressive 280,200 people live within 5 miles of the Property with an average household income of $143,185. Also, there are more than 60,200 employees within 3 miles of the Property.
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