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Department Store

Target (NYSE: TGT) with CVS Pharmacy

40 Catherwood Rd, Ithaca, NY 14850

Listing Price: $5,995,000

Cap Rate
5.55%
Tenant Name
Target
Years Remaining On Lease
3.6
Guarantor
Corporate Guarantee
Rentable SF
126,000
Lease Type
Absolute Net
Rent Per Square Feet
$2.64

Investment Overview

The Deltondo Group and Marcus & Millichap are pleased to present for sale Target a single-tenant property located at 40 Catherwood Road, Ithaca, New York 14850. Backed by a strong Corporate Guaranty (NYSE: TGT) Target operates on an absolute-net lease with 4.75 years of term remaining. Target has limited to no competition, the next closest Target is located over 25 miles away. Located just 2 miles away Cornell University enrolls 25,000+ students. Target is Outparcel to The Shops at Ithaca Mall, a 622,920 SF / 58 Store Shopping Mall Shared with Other Major Retailers Michaels, Best Buy, Dick’s Sporting Goods, BJ’s Wholesale and Many Other Mall Tenants.

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Target Corp (Target) is a retailer of general merchandise and food products. The company’s product portfolio comprises baby and beauty products, clothing, electronic equipment, furniture, grocery, home and pet products, school and office supplies, shoes, sports and outdoor products, toys, and sports equipment. Target also offers optical, clinics and other amenities, home delivery, photo printing service, rewards, and gift card services. The company leases certain retail stores, warehouses, office space, distribution centers, land, and equipment. Target markets products under owned brands and exclusive brands. It operates stores under Target, Expect More. Pay Less., and Bullseye Design banners. Target is headquartered in Minneapolis, Minnesota.

Investment Highlights

  • Absolute-Net Lease (Zero Landlord Responsibilities): 4.75 Years Remaining with 10% Increases Every Other Option.
  • Corporate (NYSE: TGT) Guaranty: Target has 1,948 Locations & 400,000+ Employees Across All 50 States.
  • Long Operating History: Target has Operated at this Location for 20+ Years & Recently Exercised First Option Showing Strength of Location.
  • Limited to No Competition: Only Target within A 25-Mile Radius.
  • Near Major Universities: Just 2 Miles from Target; Cornell University Enrolls 25,800+ Students. 5 Miles from Target, Ithaca College Enrolls 5,293 Students.

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (212) 430-5100

    License(s) NY: 10311204479

    New York

Financing By

Department Store

Target (NYSE: TGT) with CVS Pharmacy

Listing Price: $5,995,000

Cap Rate
5.55%
Tenant Name
Target
Years Remaining On Lease
3.6
Guarantor
Corporate Guarantee
Rentable SF
126,000
Lease Type
Absolute Net
Rent Per Square Feet
$2.64

Investment Highlights

  • Absolute-Net Lease (Zero Landlord Responsibilities): 4.75 Years Remaining with 10% Increases Every Other Option.
  • Corporate (NYSE: TGT) Guaranty: Target has 1,948 Locations & 400,000+ Employees Across All 50 States.
  • Long Operating History: Target has Operated at this Location for 20+ Years & Recently Exercised First Option Showing Strength of Location.
  • Limited to No Competition: Only Target within A 25-Mile Radius.
  • Near Major Universities: Just 2 Miles from Target; Cornell University Enrolls 25,800+ Students. 5 Miles from Target, Ithaca College Enrolls 5,293 Students.

Investment Overview

The Deltondo Group and Marcus & Millichap are pleased to present for sale Target a single-tenant property located at 40 Catherwood Road, Ithaca, New York 14850. Backed by a strong Corporate Guaranty (NYSE: TGT) Target operates on an absolute-net lease with 4.75 years of term remaining. Target has limited to no competition, the next closest Target is located over 25 miles away. Located just 2 miles away Cornell University enrolls 25,000+ students. Target is Outparcel to The Shops at Ithaca Mall, a 622,920 SF / 58 Store Shopping Mall Shared with Other Major Retailers Michaels, Best Buy, Dick’s Sporting Goods, BJ’s Wholesale and Many Other Mall Tenants. ? Target Corp (Target) is a retailer of general merchandise and food products. The company’s product portfolio comprises baby and beauty products, clothing, electronic equipment, furniture, grocery, home and pet products, school and office supplies, shoes, sports and outdoor products, toys, and sports equipment. Target also offers optical, clinics and other amenities, home delivery, photo printing service, rewards, and gift card services. The company leases certain retail stores, warehouses, office space, distribution centers, land, and equipment. Target markets products under owned brands and exclusive brands. It operates stores under Target, Expect More. Pay Less., and Bullseye Design banners. Target is headquartered in Minneapolis, Minnesota.

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (212) 430-5100

    License(s): NY: 10311204479

    New York

Financing By

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