Rome, NY - Mohawk Acres Portfolio

Description:

SRS Multi-Tenant Investments is pleased to offer the opportunity to acquire the fee simple interest in a multi-tenant retail asset consisting of two adjacent parcels
in Rome, New York. The offering includes Chipotle (15-year lease), a free-standing Starbucks (10-year lease), and CanaPlanet (7-year lease), with over 10.5 years of weighted average lease term (WALT) remaining. Each tenant has scheduled rental increases and options to extend, supporting stable, long-term income. CanaPlanet stands to benefit from the pending federal reclassification of cannabis to Schedule III, which would eliminate IRS Section 280E and improve operator cash flow and rent coverage.

The property is positioned as an outparcel to Mohawk Acres Plaza, a Market 32 and Family Dollar-anchored center that attracts approximately 1.9 million annual visits, ranking in the top 71% nationally and top 67% in New York among comparable centers. The site is surrounded by national retailers including McDonald’s, Dunkin’, Burger King, and Walgreens, and is located between two signalized hard-corner intersections on Black River Blvd / State Rt 46 (15,900 VPD), providing excellent visibility and access. The asset also benefits from proximity to major institutional and medical demand drivers, including Griffiss International Airport and the Air Force Research Laboratory (AFRL), which supports a 5,000+ employee high-technology and defense ecosystem, and Rome Health, a full-service acute-care medical center steps from the site. Further enhancing the region’s economic profile, Chobani is developing a $1.2B, 1.4M SF food manufacturing facility at Griffiss Business and Technology Park, expected to create over 1,000 new jobs, reinforcing local employment growth and long-term retail fundamentals.

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