Shoprite - Slingerlands, NY

SHOPRITE SUPERMARKET

41 VISTA BLVD, SLINGERLANDS, NY 12159

JAMES CAPITAL ADVISORS, INC.

SHOPRITE SUPERMARKET

MARKETING PACKAGE TABLE OF CONTENTS 03 Investment Summary 04 Lease Summary 05 Rent Growth 06 Retail Aerial 08 Site Plan 09 About the Brand 10

Location Overview

CONTACT INFORMATION

joel cukier

Senior Associate (424) 325-2618

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41 VISTA BLVD, SLINGERLANDS, NY 12159

@jamescapitaladvisors

SHOPRITE SUPERMARKET

INVESTMENT SUMMARY Tenant

ShopRite Supermarket

Street Address

41 Vista Blvd

City

Slingerlands

State Zip GLA Lot Size Year Built

NY 12159 65,000 SF

$

$18,495,000 LIST PRICE

% 7.16% CAP RATE $

$1,324,700 NET OPERATING INCOME

7.80 AC

Price / SF

$284.54

2012

Rent / SF

$20.38

*Based on the 5/1/2021 rent increase, seller will credit the rent difference.

Strong Corporate Guarantee by Wakefern Food Corporation The lease is corporately guaranteed by Wakefern Food Corporation, the 20th largest private company in the U.S. and the largest employer in the state of NJ with over with over 70,000 employees and $16.6 billion in annual revenue.

Minimal Landlord Responsibilities The lease is structured as a Triple-Net (NNN) lease with the tenant responsible for maintaining the roof, structure, parking lot, CAM, taxes and all utilities for the property for the full term of the lease and renewal options. The landlord is responsible to replace the roof after the initial term of the lease and when the roof warranty expires in 2031.

Long-Term Lease Remaining Shoprite is operating under a 20 year lease which commenced in May of 2011 and expires in April of 2031 with multiple options to renew giving the landlord a longterm stable income stream.

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41 VISTA BLVD, SLINGERLANDS, NY 12159

SHOPRITE SUPERMARKET

LEASE SUMMARY Lease Type

Triple-Net (NNN)

Type of Ownership Original Lease Term

Fee Simple

Real Estate Taxes

Tenant Reimburses

Insurance

Tenant Reimburses

20 Years

Roof & Structure*

Landlord Responsible

5/1/2011

Lease Guarantor

Corporate

Lease Expiration

4/30/2031

Company Name

Wakefern Food Corp

Term Remaining

10.5+ Years

Commencement Date

Increases Options

$1 Per Foot Every 5 Years Five (5), 5-Year & One (1), 3.5-Year

Ownership Years in Business Number of Locations

Private 74 276

*The tenant is responsible for the structure and the maintenance of the roof. The landlord is responsible to replace the roof at the end of the base term and at the end of the warranty.

Suburb of Albany NY with Excellent Retail Demographics This site was strategically constructed in 2011 to cover a gap in the market and serve the Slingerlands suburb of Downtown Albany, the state capital of New York. The site benefits from the above average household income of over $125,000 in the one-mile radius to the site and the 128,000+ people living within the five-mile radius.

Attractive Rental Increases The lease calls for a $65,000 rental increase every five years in the base term of the lease and the six, five year renewal options providing the investor with excellent rent growth and a great hedge against inflation.

Single Tenant Supermarket Essential’s Retailer The supermarket sector is widely regarded to be one of the strongest retail sectors in the retail market with nearly twice as many new stores opening than closing year over year and is considered to be somewhat ecommerce proof. The positive growth of the grocery segment has also been fueled by the outbreak of coronavirus in the U.S. and many states mandating people staying at home.

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41 VISTA BLVD, SLINGERLANDS, NY 12159

SHOPRITE SUPERMARKET

RENT GROWTH Period

Term

Annual Rent

Monthly Rent

Increase

CAP Rate

5/1/2016 - 4/30/2021

Base Term

$1,259,700

$104,975.00

-

6.81%

5/1/2021 - 4/30/2026

Base Term

$1,324,700

$110,391.67

5.16%

7.16%

5/1/2026 - 4/30/2031

Base Term

$1,389,700

$115,808.33

4.91%

7.51%

5/1/2031 - 4/30/2036

1st Option

$1,454,700

$121,225.00

4.68%

7.87%

5/1/2036 - 4/30/2041

2nd Option

$1,519,700

$126,641.67

4.47%

8.22%

5/1/2041 - 4/30/2046

3rd Option

$1,584,700

$132,058.33

4.28%

8.57%

5/1/2046 - 4/30/2051

4th Option

$1,649,700

$137,475.00

4.10%

8.92%

5/1/2051 - 4/30/2056

5th Option

$1,714,700

$142,891.67

3.94%

9.27%

5/1/2056 - 10/31/2059

6th Option

$1,779,700

$148,308.33

3.79%

9.62%

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41 VISTA BLVD, SLINGERLANDS, NY 12159

SHOPRITE SUPERMARKET

RETAIL AERIAL

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41 VISTA BLVD, SLINGERLANDS, NY 12159

SHOPRITE SUPERMARKET

RETAIL AERIAL

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41 VISTA BLVD, SLINGERLANDS, NY 12159

SHOPRITE SUPERMARKET

SITE PLAN

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41 VISTA BLVD, SLINGERLANDS, NY 12159

SHOPRITE SUPERMARKET

ABOUT THE BRAND ShopRite

ShopRite is the registered trademark of Wakefern Food Corp., a retailer-owned cooperative based in Keasbey, NJ, and the largest supermarket cooperative in the United States. With more than 276 ShopRite supermarkets located throughout New Jersey, New York, Pennsylvania, Connecticut, Delaware and Maryland, ShopRite serves more than six million customers each week. ShopRite has been the largest retailer of food in New Jersey for close to 70 years and is also number one in the entire New York metropolitan area. Since 2011, ShopRite is also the largest retailer of food in Greater Philadelphia.

The philosophy of ShopRite is simple: Members knew that they had to “buy right� to offer their customers the best prices. Most ShopRite stores are family-owned to this day, many with second, third, or even fourth generation members. Through more than 60 years of service, it has built its reputation as a low-price leader while offering its customers unprecedented variety and customer service.

Wakefern Food Corp.

From a small, local cooperative that began with eight grocery store owners, Wakefern Food Corp. has grown into the largest retailer-owned cooperative in the United States. Founded in 1946, the cooperative comprises 51 member companies who today independently own and operate 354 supermarkets under the ShopRite, The Fresh Grocer, Price Rite Marketplace, Gourmet Garage and Dearborn Market banners in New Jersey, New York, Connecticut, Pennsylvania, Maryland, Delaware, Massachusetts, Rhode Island, and New Hampshire.

Wakefern Food Corp. Announces Major Hiring Initiative As a result of the dramatic increase in demand and volume across its stores, Wakefern and its members have kicked off a hiring push to fill a variety of positions across its warehouses and stores. The goal is to keep stores fully staffed during this challenging time and continue to provide the best possible customer service to shoppers and the communities where stores operate amid the Covid-19 pandemic.

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41 VISTA BLVD, SLINGERLANDS, NY 12159

SHOPRITE SUPERMARKET

LOCATION OVERVIEW Slingerlands, NY

Slingerlands is located immediately west of Delmar and near the New Scotland town-line and south of the Albany city-limits. Slingerlands is predominately residential, with commercial properties mostly along New Scotland Road from the Albany city-line south to the intersection with Kenwood Avenue. Many historic homes and buildings from the 1800s still stand in the heart of the hamlet, many of which are associated with the founding family of the Slingerland’s.

Slingerlands is a hamlet in the town of Bethlehem, Albany County, New York. Its location in Albany County, New York offers a unique combination of friendly neighborhoods and rural beauty. Bethlehem offers high-quality school systems, excellent recreational facilities for young and old, and superb programs and services at a cost that is both reasonable and fair to taxpayers. Its blend of suburban neighborhoods, rural life, and commercial enterprises make it a pleasant, attractive, and enjoyable community for businesses and residents alike.

Albany, NY The City of Albany, located on the banks of the Hudson River in the heart of the Capital District, is proud to be New York State’s Capital City. Albany constitutes the economic and cultural core of the Capital District of New York State, which comprises the Albany–Schenectady–Troy, NY Metropolitan Statistical Area, including the nearby cities and suburbs of Troy, Schenectady, and Saratoga Springs. Albany is a beautiful destination, offering valuable resources for higher education and sustainable living, vibrant and active urban centers and desirable neighborhoods. The city’s deep-rooted history and heritage have shaped the city’s urban footprint, complimenting its natural setting along the waterfront and its reflection of historic architecture, major institutions, mixed neighborhoods and diversity of residents.

Proximity to University at Albany The subject property is located just 4.5 miles from the University at Albany with over 17,750 full time students annually.

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41 VISTA BLVD, SLINGERLANDS, NY 12159

SHOPRITE SUPERMARKET

LOCATION OVERvIEW 1.

New York State Capitol State St. and, Washington Ave, Albany, NY 12224 6.9 MILES FROM SUBJECT PROPERTY

2. New York State Museum 222 Madison Ave, Albany, NY 12230 6.5 MILES FROM SUBJECT PROPERTY

3. USS Slater 1 Quay St, Albany, NY 12202 7.9 MILES FROM SUBJECT PROPERTY

4. Times Union Center 51 S. Pearl St, Albany, NY 12207 8.2 MILES FROM SUBJECT PROPERTY

5. University of Albany 1400 Washington Ave, Albany, NY 12222 4.9 MILES FROM SUBJECT PROPERTY

6. Washington Park State and Willet Streets, Albany, NY 12210 6.2 MILES FROM SUBJECT PROPERTY

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41 VISTA BLVD, SLINGERLANDS, NY 12159

SHOPRITE SUPERMARKET

LOCATION OVERvIEW

01 NEW YORK STATE CAPITOL

The Capitol BUILDING was completed in 1899 at a cost of $25 million.

02 NEW YORK STATE MUSEUM

The museum houses art, artifacts & ecofacts that reflect NY culture.

04 TIMES UNION CENTER

This indoor arena can accommodate from 6,000 to 17,500 people.

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03 USS SLATER

The ship is a Cannon-class destroyer escort that served in the U.S Navy.

05 UNIVERSITY OF ALBANY

The university has over 17,750 full time students annually.

06 WASHINGTON PARK

The 81-acre park was created during the 1870s-80s with Great amenities.

41 VISTA BLVD, SLINGERLANDS, NY 12159

SHOPRITE SUPERMARKET

DEMOGRAPHICS

POPULATION

1-Mile

3-Mile

5-Mile

2,184

31,518

128,706

2019 Estimate

2,074

31,627

128,141

2010 Census

1,534

32,799

127,325

Growth ‘19 - ‘24

5.30%

-0.34%

0.44%

Growth ‘10 - ‘19

35.20%

-3.57%

0.64%

HOUSEHOLDS

1-Mile

3-Mile

5-Mile

2024 Projection

894

13,944

52,018

2019 Estimate

854

14,004

51,841

2010 Census

661

14,595

51,957

Growth ‘19 - ‘24

4.68%

-0.43%

0.34%

Growth ‘10 - ‘19

29.20%

-4.05%

-0.22%

Average Income

$167,706

$118,549

$89,407

Median Income

$125,704

$87,934

$65,662

2024 Projection

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41 VISTA BLVD, SLINGERLANDS, NY 12159

SHOPRITE

DISCLAIMER The information contained in this Marketing Brochure has been obtained from sources believed to be reliable, but the accuracy or completeness of the information contained therein cannot be guaranteed. James Capital Advisors, Inc. & R. Scott Burdett (“Broker”) has not, and will not, verify any of this information, nor has Broker conducted, nor will it conduct, any investigation regarding these matters. Broker makes no representations, guarantees, or warranties of any nature about the accuracy or completeness of any information provided. The information provided in this brochure is in no way a substitute for a thorough due diligence investigation by Buyer. Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to income and expenses for this property nor the future financial performance of the property. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties as to the size and square footage of the property, the presence of any contaminating substances at the property, the physical condition of the property or compliance with any State, Local or Federal regulations. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to the financial condition or future financial condition of any tenants, nor any future plans or intentions of tenants with regard to the continued occupancy of the property. All parties are aware that Broker has no affirmative obligation to conduct a due diligence examination of the property for any Buyer. Any and all projections or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. Therefore, Broker assumes no legal responsibility for accuracy or completeness of this information, and expressly disclaims all representations, guarantees, or warranties related thereto.

The value of the property to any Buyer depends on numerous factors that must be evaluated by Buyer and Buyer’s legal, tax, construction, and financial advisors. Buyer and Buyer’s advisors should conduct a thorough, independent investigation of the property to determine its suitability for Buyer’s intended usage. This investment, as with all real estate investments, carries a substantial risk. As such, Buyer and Buyer’s legal and financial advisors are strongly advised to request and review all legal and financial documentations related to the property and tenants.

A tenant’s past performance is not a guarantee of future performance. The lease rate stated for some properties may be based on a tenant’s projected sales with little or no record of actual performance or comparable rents for the area in question. Returns are in no way guaranteed. Tenants may fail to pay the rent or property taxes or any other tenant obligations under the terms of the lease or may default under the terms of such lease. Regardless of tenant’s history of performance, and/or any lease guarantors and/or guarantees, Buyer is responsible for conducting Buyer’s own investigation of all matters related to any and all tenants and lease agreements. Broker is not, in any way, responsible for the performance of any tenant or for any breach or default by any tenant of any terms of any lease agreement related to the property.

Further, Buyer is responsible for conducting Buyer’s own independent investigation of all matters related to the value of the property, including, but not limited to, the value of any long-term leases. Buyer must carefully evaluate the possibility of tenants vacating the property or breaching their leases and the likelihood and financial impact of being required to find a replacement tenant if the current tenant should default and/or abandon the property. Buyer must also evaluate Buyer’s legal ability to make alternate use of the property in the event of a tenant abandonment of the property.

CONFIDENTIALITY This Marketing Brochure and the information contained within, is propriety and strictly confidential. It is intended to be used only by the party receiving it from Broker. It should not be made available to any other person or entity without the express written consent of Broker.

RELEASE This Marketing Brochure has been prepared to provide basic, unverified information for prospective purchasers. By accepting this Marketing Brochure, the recipient agrees to release and hold harmless Broker from any claim, demand, liability or loss arising out, or relating in any way, to the information contained in this Marketing Brochure and from Buyer’s investigation of the property. In no event shall James Capital Advisors, Inc. or Broker be liable to any party for any direct, indirect, special, incidental, or consequential damages of any kind whatsoever arising out of the use of this Marketing Brochure or any information contained herein.

NON-ENDORSEMENT Broker is not affiliated with, endorsed by or sponsored in any way by any tenant or lessee identified in this Marketing Brochure. The presence of any entity’s logo or name is not intended in any way to indicate affiliation, sponsorship or endorsement by said entity of Broker.

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www.jamescapitaladvisors.com

@jamescapitaladvisors

SHOPRITE

CONTACT INFORMATION LISTING AGENT

joel cukier

Senior Associate (424) 325-2618 joel@jamescapitaladvisors.com CA RE Lic. 02005095 BROKER OF RECORD

R. Scott Burdett

Flaum Management Company, Inc (585) 546-4866 sburdett@flaummgt.com Rochester, NY CORP. Lic #: 109926090

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www.jamescapitaladvisors.com

@jamescapitaladvisors