This property boasts a high-profile and stable tenant, AT&T, a leader in telecommunications. AT&T’s occupancy began in 1998, demonstrating their long-term commitment to this prime location. The current lease extension is active through June 30, 2026 with rent at $9,745.50 per month. Tenant option for additional five-year lease renewal period, extending lease term through June 30, 2031 at $10,720.05 per month, Triple Net.
Attractive Features for Investors
1. Established Tenant: Secure and consistent rental income from a Fortune 500 company.
2. Long Term Stability: Nearly three decades of tenancy with options for continued occupancy.
3. High-Visibility Location: Strategically located retail site on Blackstone Avenue, providing high-traffic count visibility and building signage.
4. Below replacement costs value.
5. Current lease rate at below market rents.