Listed by JLL Chicago | Americas Headquarters, JLL - New York City, New York
Unpriced
Market Grille - Manchester, CT
Details
Property Type Retail
Sub Type Restaurant
Square Footage 6,500
Tenancy Single
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 08/31/2027
Remaining Term 1.1
Rent Bumps Yes
Lease Options 2 x 5 Years
Year Built 2000
Acreage 2.570
Investment Type Net Lease
Tenant Credit No Credit Rating
Lease Commencement 09/01/2012
Ground Lease No
6,500 SqFt
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the single-tenant Market Grille (“LongHorn”) located at 110 Buckland Hills Drive in Manchester, Connecticut (“Property” or “Asset”). Market Grille is operating on an absolute NNN with zero landlord responsibilities, ±1.3 years of primary lease term remaining and two, five-year renewal options.
Tri-State Broker of Record: Joseph Caridi – License #: REB.0759251
Investment highlights
- Operating on an absolute NNN lease with ±1.3 years of lease term remaining
- Outparcel to The Shoppes at Buckland Hills, a top 2% shopping center in CT
- Strong demand characteristics driven by 1-mile AHHI of $124K
- Experienced parent company, MRG, with over 30 years of experience
- 3.03% rent-to-sales based off annual sales of $3.93M
- Within the #1 most visited retail node in CT with 11.6M+ visits annually
- At the interchange of I-81/I-291 with direct access to 153,000 VPD
Listing Contacts
Listed by JLL Chicago | Americas Headquarters, JLL - New York City, New York
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$118,957.00
$9,913.08/mo
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