Urban Retail Net-Lease
Boston Realty Advisors is exclusive retained to sell the fee simple interest of 287 Main Street, a single tenant T-Mobile in one of Boston’s most rapidly appreciating neighborhoods, Charlestown, Massachusetts. The T-Mobile franchisee recently executed a new five year lease on March of 2017 with 3% annual increases providing strength and stability to the asset. Upon expiration, the new ownership has the opportunity to increase cash flow when able to mark-to-market with a new tenant or extending T-Mobile with a one, five year option at Fair Market Value.
Creating additional upside potential, the +/- 1,042 square foot parcel provides investors with multiple long-term development scenarios to go vertical adding considerable potential to add value and hedge any market risks.
287 Main Street is on the main thoroughfare of Charlestown and only steps away from the neighborhoods most visited retail center, Bunker Hill Mall. This center is anchored by national tenants including Whole Foods Market, Citizen’s Bank, Dunkin’ Donuts, CVS, Papa Gino’s and 99 Restaurants among other retailers. Additionally, 287 Main Street is located less than ½ mile away from the Community College Orange Line T Stop providing direct access to Downtown Boston within minutes.
This offering represents an irreplaceable opportunity in the urban core with a stable net lease at below market rents and long-term development opportunities. We are marketing this asset unpriced, with a call for offers to follow.