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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.
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| 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.
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| 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
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