Rare Boston MSA Corporate NNN Lease with Excellent Rent Growth – The lease is guaranteed by Knowledge Universe, a leading global education organization employing 30,000 people across 1,700 locations worldwide.
Excellent Rent Growth – The lease features stellar rent growth with a minimum of 2% rent increases or a maximum of 4% rent increases (based on CPI) every 2 years of the primary term.
Below Market Rent – At just $13.65 a foot annually, the tenant is paying below market rent for this location. When the tenant negotiated their amendment a year ago, market rents in the area were $15.50 – $18.00 psf.
Strategic Location/Interstate 495 Access (118,000 cpd) – The subject property is positioned on a signalized corner location, just off MA Route 38 across from a Home Depot Center and less than a 1/2 mile from a Walmart Supercenter. In addition, the subject property is conveniently located just 400 feet from the exit off of Interstate 495, which allows this location to pull students from a large radius of surrounding communities.
Strong Retail Synergy – Neighboring tenants include Home Depot, Burger King, IHOP, Walmart, Citizens Bank, Orange Leaf Frozen Yogurt, GoWireless, Subway, Dunkin Donuts, Applebee’s, Hannaford Supermarket, KMart, Marshalls, McDonald’s, and many more.
Strong Demographics – There are nearly 200,000 residents within a 5-mile radius of the property with an average HH income of over $80,000.