AssetCRG has successfully leased out 1273 Deer Park Avenue for a 15-year lease. The 3,050 SF space was leased to 7-Eleven.
1273 Deer Park Avenue | North Babylon, NY | 3,050 SF of Retail for Lease
Details
AssetCRG is proud to announce that it successfully leased out a free-standing site at 1273 Deer Park Ave, North Babylon NY in Suffolk county of Long Island to 7-Eleven. The space is roughly 3,050 square feet and was rented at roughly $56 a foot NNN on a 15-year term. The property was a former Payless ShoeSource who has been at the site for 10+ years. AssetCRG represented both the landlord and the tenant in this transaction. Joe Mast adds that, “Due to the bankruptcy by Payless, these freestanding sites were great opportunities for the 7-Eleven to enter this market and this site was a perfect fit for their operation. 1273 Deer Park Avenue works well for them in terms of size, location, and key demographics.”
Additional Information
| City | Long Island |
|---|---|
| Neighborhood | North Babylon |
| Broker | Albert Aranbaev, Joe Mast |
| Minimum Space Available | 1 SF |
| Maximum Space Available | 3,050 SF |
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Remarks at Closing:
– Closed for 5.1% CAP
– AT&T has been a tenant for 15 years
– Recently completed a 10-year term and 5-year option ending in Dec. 2017 & has renewed early and requested (2) 3-year extensions on existing renewals
– Tenant has done a complete interior renovation and is strongly committed to the site
– High traffic busy corner location, many national retailers located nearby, out-parcel to a larger center
– Landlord pays taxes/CAM and 100% reimbursed by tenant. LL responsible for roof/structure -
- Development site with approved plans
- Represented the seller
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- Multi-family building consisting of 6 units
- Represented the buyer
