$12.8 Million Lowe’s Ground Lease Hits the Market in New England

Lowe's facility, 64 Manchester Drive
Windham, ME

WINDHAM, ME – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has received the exclusive listing for the triple-net ground lease on a 138,134-square foot Lowe’s in Windham, Maine. The listing price of $12,890,625 equates to $93 per square foot.

Robert Horvath

            Robert Horvath, a vice president investments, and Todd Tremblay, an associate vice president investments, both in the Boston office of Marcus & Millichap, are representing the seller, a regional developer.

            “The original 20-year lease was signed in March 2005, which leaves 12-plus years on the initial term,” says Horvath. “The lease has six five-year options to renew and rental increases of five percent are scheduled to occur at the commencement of each exercised option period.”

“The Windham Lowe’s is situated within a well-established retail trade area with close proximity to numerous national tenants,” adds Tremblay. “The ground lease is absolute triple-net with zero landlord responsibilities.”

The store is located at 64 Manchester Drive in Windham, Maine off U.S. Route 302, a main thoroughfare through Southern Maine known in the region as the Roosevelt Trail.

Todd Tremblay

Traffic counts along Route 302 exceed 21,780 vehicles per day.

Windham is part of the Portland/South Portland/Biddeford metropolitan statistical area.

For a complete copy of the company’s news release, please contact:

Ben Johnson

 Marketing Director

(925) 953-1736