JAC Capital Partners is pleased to exclusively market 347-355 Main Street, a multi-tenant Retail / Office property located in Poughkeepsie, NY.
The subject property includes one of three federal bankruptcy courthouses in the Southern District of New York, guaranteed by the United States Government (S&P Credit Rating: AA+). The lease commenced in 2005 and was recently extended for an additional 10 years, representing a commitment to the site.
The building is further benefitted from its convenient infill location, with excellent foot and car traffic exposure. It also has the largest dedicated parking on main street, with more than eighty spaces. The subject is located 90 minutes from New York City and is accessible by Amtrak and Metro North rails.
Weighted Average Lease Length: 8.6 Years
Upside Available through Leasing and Development
Opportunity Zone – Potential to Defer Capital Gains and Sell with Tax Free Appreciation
1.17 ACRES CORNER LOT – One of the Largest Lots in the Poughkeepsie CBD
Rare 80+ Parking Spaces on Main Street
Convenient Nearby Mass Transit (Amtrak, Metro North, Dutchess County Bus Route)
Attractive Credit: US Government (AA+ Credit Rating) + Secured Leaseback (Rent in Escrow)
Infill Location with Significant Development Opportunity (Up to 350,000 SF)