Walgreens Guaranty Leased to Richmond University Medical Center

1161 Victory Blvd, Staten Island, NY
Deal Type:
Net Lease
Price:
$10,388,889
Cap Rate:
4.50%
Current Rent:
$467,500
Lease Type:
Triple Net
Landlord Responsibilities:
None
Lease Expiration Date:
Approx. 15+ years
Renewal Options:
4, 5 Years & 1 (Last), 4 Years
Building Sq. Ft.:
13,961 SF
Rent Increases:
10% Throughout Base & Options
Site Size:
0.72 AC

Investment Highlights

  • COMMITMENT: Extremely Rare 10% Increases Every 5 Years with 15 Years Remaining on an Absolute NNN Corporately Guaranteed Walgreens Lease
  • IRREPLACEABLE LOCATION: Irreplaceable corner location surrounded by national tenants with 31,874 VPD Passing Site (Intersection of Clove Rd & Victory Blvd) and Immediate access to I-278 (Staten Island Expressway): 162,000 VPD) 1 Mile South
  • MARKET DEMAND: The tenant is currently paying $33PSF, a rate that is easily replaceable and in strong demand for a high profile corner location
  • STRONG TENANT: Incredibly Strong Operating Tenant: Richmond University Medical Center: 470+ bed healthcare facility & teaching institution with expertise in medical, surgical, gastroenterology, cardiology, pediatrics, podiatry, endocrinology, urology, oncology, orthpoedics, neonatal, intensive care and maternal health. RUMC has over 2,600 employees focused on serving the borough of Staten Island. They are affiliated with Icahn School of Medicine and in the Mount Sinai Health System’s network.

Listing Agents

Phil DiGennaro

Managing Director
203 610 1541
203 610 1541 Phil@stream-cp.com

Taylor Trepinski

Vice President
786 684 1975
Taylor@stream-cp.com

Jordan Shtulman

Managing Principal
847 226 4133
Jordan@stream-cp.com

Broker of Record: Mike Antonoplos, NY Lic. #34AN1074933

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