For Sale Single Tenant NNN Lease
Boston Realty Advisors has been exclusively retained to solicit offers for the sale of the Guitar Center in Braintree, Massachusetts. This asset provides investors with the opportunity to acquire a +/- 27,500 square foot net-lease retail property located on a freestanding outparcel at the entrance of the dominant and highly-visible 351,282 square foot Marketplace at Braintree. The asset is 100% leased to national stronghold Guitar Center on a triple-net basis. Guitar Center subleases 11,260 square feet to Five Below (NASDAQ: FIVE).
The Marketplace at Braintree is strategically situated immediately off exit 17 on Route 3, just south of the I-93 interchange. The property maintains great accessibility from all directions of travel. In addition, the property also enjoys excellent visibility from Route 3 and maintains amble parking facilities (1,726 spaces) to accommodate the market’s heavy retail driven traffic volumes: over 130,000 vehicles per day on average. Proof of the centers strength, the Marketplace at Braintree recently lured both Nordstrom Rack and Saks Off 5th to open. Other national strongholds at the center include: PetSmart, Ulta Beauty, Bed Bath & Beyond, Babies “R” Us, Staples, GameStop, and Best Buy.
Guitar Center is master leased to Guitar Center Inc. through July 2027. Guitar Center subleases 11,260 square feet to Five Below on a direct basis until August 2022. Guitar Center is the largest chain of musical instrument retailers in the world with 281 locations and boasts revenue in excess of $2.2 billion. Guitar Center’s success is poised to continue due to their leading niche market position as the musical instrument brand leader offering shoppers a hands-on retail experience.
- Single tenant NNN lease
- National Tenants
- Unmatched Location
- Ten year term with annual rent increases