Investment Overview

Marcus & Millichap is pleased to present for sale the property located at 20 Commercial Road in Leominster, Massachusetts, a 20,279 SF, 5-suite multi-tenant retail center anchored by Convenient MD located on an oversized 2.02-acre lot. The property is currently occupied by two national tenants and two regional tenants, with one small vacancy providing upside for a future owner. The sign easement in place at the site allows for each tenant to advertise on signage facing both east and west. Convenient MD has invested just under $2 million in building out their space and has 13+ years of remaining term on their lease and options past that, with scheduled 10% rent increases every five years. All of the remaining tenants have annual increases in their leases, ranging from 2% to 3% per year. All leases are NNN, with all tenants reimbursing for all expenses except roof & structure. During the build-out of ARA Leominster Dialysis, the tenant installed a generator and their own water and sewer lines. The site is located steps away from the on-ramp to Route 2, a well-traveled commuter route to Boston that sees more than 63,000 VPD. Route 2 intersects with I-190 less than a mile east of the property, which brings commuters into Worcester, putting the property directly adjacent to the main east-west route to the two largest cities in Massachusetts. The center is a part of the largest concentration of retail property in the area, highlighted by the Mall at Whitney Field, a 744,000 SF shopping center that is home to dozens of national and regional tenants. In addition, the property is surrounded by many other national tenants, including Starbucks, CVS, Chipotle, Market Basket, Burger King, Wendy’s, Home Depot, and many more.