Investment Overview

Circle Furniture Plaza is a 17,000 square foot two tenant NNN retail center situated on 2.01 Acres of land in Middleton, MA. The town of Middleton is located within Essex County between Interstate 95 and Interstate 93 with direct access from Exit 67 along I-95. This parcel is located in the Southern section of town along the primary commercial corridor which is South Main Street (Route 114). The property was built to suit in 2014 for the anchor tenant Circle Furniture (14,500 square feet) and cotenant North Shore Bank (2,500 square feet) which includes dual lane drive through service. Circle Furniture signed a new 10 Year NNN Lease in 2021 with two 5 Year Options. The lease allows for annual increases of not more than 2% based on the increase in the Consumer Price Index (CPI) throughout the remaining term of the lease. North Shore Bank originally signed a 10 Year NNN Lease which is in the first of three 5 year option periods. Increases under this lease are determined as the fair market value (FMV) of the space calculated annually beginning in the next option period. The site is adjacent to and shares access from South Main Street with a Walgreens Pharmacy which was built in 2008 prior to this site’s development. Other Retail in the immediate area includes a Market Basket, TJ Maxx, Jo-Ann Fabrics and Bob’s Stores anchored shopping center directly opposite South Main Street as well as Starbucks, Aroma Joe’s, Dunkin’, TD Bank, Salem Five Bank, Verizon, Dairy Queen and McDonald’s along South Main Street. The property is located within 1.5 miles of Route 1 and Interstate 95 interchanges which include an additional retail node. Notable retailers along Routes 1 and 114 such as Home Depot, Lowe’s Costco, Harbor Freight, Walmart, Mazda, Jeep, Toyota, Lexus, Infiniti, CarMax, Subaru lead into the Northshore Mall (1,667,000 SF) as well as the Liberty Tree Mall (845,000 SF) about 3.5 miles away. The immediate area demographics reflect a large population over 100,000 within 5 miles and very strong incomes of nearly $150,000 in that same ring. The immediate area is a well diversified town setting just a short drive from the downtown and access to Boston in about 30 minutes drive. These characteristics combined with the more than 30,000 vehicles per day along South Main Street make for a rare investment opportunity.