Globally Recognized Tenant: Pizza Hut – Successful 107-Unit Operator – Pizza Hut is the largest pizza chain in the world, operating over 16,000 restaurants and 350,000 team members in more than 100 countries. Pizza Hut is a subsidiary of YUM! Brands, Inc. (NYSE: YUM), the largest restaurant company in the world with over 43,500 restaurants in more than 135 countries and territories. YUM! Brands is ranked number 218 on the Fortune 500 list.
The Franchisee is the largest Owner/Operator in the Pizza Hut System, New England Region, operating 107 stores across New York, Massachusetts, Connecticut, Vermont, New Hampshire, Maine, and Tennessee.
7.9% Rent to Sales Ratio – Highly Profitable Location – The Tenant has reported an ideal 7.9% rent to sales, alleviating any future vacancy risk concerns and providing a future investor with a long-term passive income stream.
New 20-Year Absolute NNN Lease – Strong Rent Growth – Zero Landlord Responsibilities – The tenant is on a new 20-year lease that features 10%increases every 5 years in the Primary Term and (4) 5-year options, offering an investor a steady income stream with rent growth as a hedge against inflation.
Located on Signalized Intersection – Excellent Visibility & Access – Strong Traffic Counts – The subject property is located at the intersection of Seneca Turnpike and Middlefield Dr, offering excellent visibility to combined traffic counts of 27,000 cars per day and multiple access points in/out of the property.
Excellent Retail Synergy on Main Retail Corridor – Minutes from Nearby Shopping Centers – Seneca Turnpike is a major retail/commuter corridor with national retailers in the area such as Aldi, Pep Boys, Autozone, Party City, Toys ‘R’ Us, and Rockin Jump nearby, as well as restaurants including Dunkin Donuts, McDonald’s, Berkshire Bank, Wendy’s, KFC, and Denny’s. Additional nearby shopping centers include Sangertown Square shopping mall located across from the subject property, with anchor tenants including Macy’s, Target, Boscov’s, Dick’s Sporting Goods, and JC Penney; and New Hartford Consumer Square with Walmart Supercenter, TJ Maxx, Best Buy, Staples, Applebee’s, Barnes & Noble, Old Navy and PetSmart.
Located in New Hartford/Utica – Heart of Upstate New York – Home of Marcy Nanocenter – The subject property is located in New Hartford, NY, located adjacent to Utica. Utica is the county seat of Oneida County and the tenth-most-populous city in New York, located approximately 90 miles northwest of Albany and 45 miles east of Syracuse. With a business-friendly environment and growing population, the city presents various locations that offer high traffic counts, high visibility and an avid base of consumers from throughout the Utica-Rome Metropolitan Statistical Area (MSA), which boasts a population of roughly 300,000. With its low cost of living, the city has become a melting pot for refugees from war-torn countries around the world, encouraging growth for its colleges and universities, cultural institutions and economy.
The nearby Marcy Nanocenter, located at SUNY Polytechnic Institute in Marcy, is a 450-acre greenfield site being developed for the semiconductor industry and is the largest shovel-ready semiconductor site in the world. The project has been attracting considerable interest from a number of companies and officials and with the recent tenancy of Denmark-based Danfoss Silicon Power, the area is likely to become attractive to manufacturing and technology companies around the world.