- The tenant, Walgreens, has 6+ years remaining on their original 25-year lease with 10 (5-year) options to extend, demonstrating their commitment to the site
- The lease has no rental increases throughout the initial term or at the beginning of each option period, this is done because the tenant has a termination option every 5-years beginning on 10/31/31 and every 5 years thereafter
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Camillus, NY - Walgreens
5206 W. Genesee Street | Camillus, NY 13031
Description
Location
- Above average stores sales for the location with 14% sales growth 2021-2023
- Located 8 miles from Syracuse University with 22,000 students attending per year
- Subject Property Walgreens is ranked 3,454 / 7,521 out of comparable Walgreens (top 54th percentile), 56th percentile in the state
- The asset is walking distance to Camillus Commons, a 250,000+ square foot shopping center anchored by a Walmart Supercenter and includes many other national/credit tenants, including a Lowe’s Home Improvement, Wendy’s, Denny’s, Rite Aid, McDonald’s, and more
- Camillus Commons
- 5399 W Genesee St, Camillus, NY 13031
- Ranked 756 / 7,139 out of comparable community shopping centers (top 89th percentile)
- The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Costco Wholesale, Petco, LongHorn Steakhouse, Buffalo Wild Wings, Home Depot, Staples, and more, further increasing consumer traffic to the site
- Wegmans
- 3325 Genesee St, Syracuse, NY 13219
- Ranked 324 / 64,384 out of comparable Wegmans (top 99th percentile)