Overview

Description

• The tenant, Global Partners LP, has 11.5 years remaining on their lease with 3 (5-year) options to extend
• The lease is corporate guaranteed by Global Partners LP, an American energy supply company with more than 1,600 gas stations across the Northeast
• Global Partners LP is a publicly traded company (NYSE: GLP) with an S&P credit rating of B+
• The lease features 1.50% annual rental increases throughout the initial term and options to extend, increasing NOI and hedging against inflation
• Tenant pays for CAM, taxes, insurance, and maintains all aspects of the premises
• Investor benefits from fee simple ownership of the building and land, allowing for the potential benefits of bonus depreciation
• No landlord responsibilities

• The subject property is strategically located at the signalized, hard-corner intersection of New Falls Rd. and Woodbourne Rd., averaging a combined 48,700 vehicles passing by daily
• Nearby direct on/off ramp access to numerous major highways including Interstate 295, which serves the greater Philadelphia Metropolitan Area and averages 60,900 vehicles passing by daily
• The site benefits from excellent visibility via significant street frontage and several large pylon signs
• Multiple points of ingress/egress
• Ideally situated near a dense, regional retail corridor
• National/credit tenants including Giant, Walmart Supercenter, The Home Depot, Ross Dress for Less, Barnes & Noble, Sam’s Club, H&M, Sam’s Club, GAP, and many more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site
• Close proximity to major industrial facilities for Airgas, Nuuly, The PolyCube Company, and more, further increasing consumer traffic to the site
• The 5-mile trade area is supported by over 200,000 residents and 88,000 employees, providing a direct consumer base from which to draw
• Residents within 5 miles of the subject property boast an affluent average household income of $121,639
• Levittown is an affluent suburban community located roughly 22 miles northeast of Philadelphia, Pennsylvania

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