Investment Overview

Marcus & Millichap is pleased to exclusively present for sale the shopping center at 2-17 Sarah’s Way in Fairhaven, Massachusetts. The subject property is a six tenant, 31,000 square foot center situated on a 4-acre parcel and anchored by CVS, whose current lease term extends through May 2039, thanks to a 20-year extension they signed in 2019 following more than two decades of successful operation at this location. In addition to CVS, the main building at the center is home to Plan It Eats, Pet Depot, and the Potting Bench. A smaller secondary building features Tropical Smoothie Café, which recently signed a new 10-year lease, and Danny Savery Brazilian Jiu Jitsu Academy, a martial arts school with multiple locations in Southern Massachusetts and Rhode Island. All of the tenants at the center are on NNN leases, and all except CVS reimburse management expenses and are responsible for replacing their HVAC systems as well, substantially mitigating day to day landlord expenditures. Only one of the six tenants has options to renew their lease, giving the buyer an exceptional level of control moving forward. The property is located on Route 6, the prime retail corridor in the area, which sees more than 18,000 vehicles per day passing the site. The immediate vicinity is home to many national and regional tenants, including Walmart, Marshalls, Ocean State Job Lot, Stop & Shop, and dozens more. Fairhaven is poised for strong growth thanks to the recently completed South Coast Rail expansion, which greatly improves the region’s commutability into Boston. The combination of nearly eight years of Weighted Average Lease Term, a credit-rated, corporately guaranteed anchor, landlord-favorable leases and no tenant options to renew for most of the existing tenants provides the buyer with an uncommonly strong investment opportunity.