The subject property offers investors nearly eight years of remaining lease term through July 2034, complemented by contractual 3% annual rent escalations offering a hedge against inflation and income growth throughout the lease term.
High Visibility Corner Parcel with access at the lighted intersection of Forest Avenue and Broadway, a heavily trafficked commercial corridor with over 21,000 VPD and direct right-of-way access from both thoroughfares.
Tenant Guarantee by HDR Holdings, a wholly-owned subsidiary of Wonder Group Inc. (parent of Grubhub), a privately owned $9 billion food technology platform backed by $2.65B+ in institutional capital from Accel, Bain Capital Ventures, NEA, and Goldman Sachs.
The subject property was fully renovated in 2024, providing investors with a modern, move-in ready asset. The NN lease structure limits landlord responsibilities to roof & structure and building systems up to the point of connection for the premises: minimizing ongoing capital expenditure requirements and creating a low-management, passive investment profile.
Densely Populated North Shore location situated in the West Brighton neighborhood with an average household income of $125K and surrounding demographics 41,000+ in a 1 mile radius. Located within the Forest Avenue Business Improvement District – a formally designated commercial corridor encompassing more than 165 businesses between Broadway and Hart Boulevard, with commited stakeholders invested in it’s long term vitality.
Located half a mile North of Staten Island Zoo with over 200,000 annual visitors and 60,000 youth through its popular educational programs, 0.3 miles from Anning S. Prall Intermediate School (I.S. 27) serving 836 students in grades 6–8, and 0.4 miles from Richmond University Medical Center – one of Staten Island’s largest employers with 2,500+ employees and 440+ beds – this location is centrally positioned among three major traffic drivers all within half a mile of the site.
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