Pottstown, PA - Lowe's

Description:

SRS Capital Markets Group is pleased to offer the opportunity to acquire the Leased Fee interest (land ownership) in a NNN Ground Leased, anchor of the Town Square Plaza, Lowe’s investment property located in Pottstown, Pennsylvania. The tenant, Lowe’s Home Centers, LLC recently extended their lease 15 years with further 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features variable increases beginning year 7 in the initial term and at the third extended term period, steadily growing NOI and hedging against inflation.

The subject property is strategically located at the signalized, hard corner intersection of Lenape Crossing and State Highway 100 (17,900 VPD). The site benefits
from excellent visibility and access via a large pylon sign and multiple points of ingress/egress. State Highway 100 serves as a retail thoroughfare for the surrounding community featuring several other shopping centers highlighted by national/credit tenants Dick’s Sporting Goods, Kohl’s, Jo-Ann Fabrics, and Giant Foods Supermarket. The asset, Lowe’s Home Improvement, occupying nearly 135,000 square feet in a prominent center. Lowe’s serves as a landmark, destination retailer drawing consumers to the shopping center. The 5-mile trade area is supported by a population of over 74,000 with an average household income of $108,000.