Department Store

Sleep Number

1593 New Britain Ave, West Hartford, CT 06110

Listing Price: $3,150,000

Cap Rate
7.00%
Tenant Name
Sleep Number
Years Remaining On Lease
7.0
Gross SF
3,150
Guarantor
Corporate Guarantee
Rentable SF
3,150
Price/Gross SF
$1,000.00
Lease Type
Double Net
Rent Per Square Feet
$70.00

Investment Overview

Marcus & Millichap is proud to present this Sleep Number store located at 1593 New Britain Ave in West Hartford, Connecticut. The subject property is an 11 year double-net lease (NN) commencing in January of 2017. The initial term of the lease contains ten percent increases every five years starting at the beginning of year seven. It also offers two five-year options with 10 percent rental increases at the start of each option.

The subject property is located directly off of SE Rd in West Hartford, Connecticut, which generates 36,000 vehicles per day. The property is surrounded by a very strong mix of retail tenants and is located near Interstate 84, bringing consistent traffic to the area. The location also benefits from being less than a half mile south of Westfarms mall which has 1,271,000 square feet of retail space. Within 13 miles of the subject property, 41,000 students are enrolled across 7 colleges. Surrounding retail tenants include Target, Nordstrom, Home Depot, Verizon, and many more. West Hartford is a southwestern suburb of Hartford, which has a population of approximately 124,000.

As the leader in sleep innovation, Sleep Number Corporation delivers the best quality sleep through effortless, adjustable comfort and biometric sleep tracking. Sleep Numbers proprietary SleepIQ technology platform - one of the most comprehensive databases of biometric consumer sleep data is proving the connection between sleep and wellbeing. With breakthrough innovations such as the revolutionary Sleep Number 360 smart bed, Sleep Number is redefining the future of sleep and shaping the future of health and wellness. Sleep Number has over 550 Sleep Number stores located in all 50 states.

Investment Highlights

  • Limited Landlord Responsibilities - Double Net Lease (NN).
  • Sleep Number Corporate Guarantee
  • 10% Increases Every 5 Years, Including Options

Exclusively Listed By

Broker of Record

  • John Krueger

    Vice President / Regional Manager

    License(s): CT: REB.0791913

    Connecticut

Listing Price: $3,150,000

Cap Rate
7.00%
Tenant Name
Sleep Number
Years Remaining On Lease
7.0
Gross SF
3,150
Guarantor
Corporate Guarantee
Rentable SF
3,150
Price/Gross SF
$1,000.00
Lease Type
Double Net
Rent Per Square Feet
$70.00

Investment Highlights

  • Limited Landlord Responsibilities - Double Net Lease (NN).
  • Sleep Number Corporate Guarantee
  • 10% Increases Every 5 Years, Including Options

Investment Overview

Marcus & Millichap is proud to present this Sleep Number store located at 1593 New Britain Ave in West Hartford, Connecticut. The subject property is an 11 year double-net lease (NN) commencing in January of 2017. The initial term of the lease contains ten percent increases every five years starting at the beginning of year seven. It also offers two five-year options with 10 percent rental increases at the start of each option.

The subject property is located directly off of SE Rd in West Hartford, Connecticut, which generates 36,000 vehicles per day. The property is surrounded by a very strong mix of retail tenants and is located near Interstate 84, bringing consistent traffic to the area. The location also benefits from being less than a half mile south of Westfarms mall which has 1,271,000 square feet of retail space. Within 13 miles of the subject property, 41,000 students are enrolled across 7 colleges. Surrounding retail tenants include Target, Nordstrom, Home Depot, Verizon, and many more. West Hartford is a southwestern suburb of Hartford, which has a population of approximately 124,000.

As the leader in sleep innovation, Sleep Number Corporation delivers the best quality sleep through effortless, adjustable comfort and biometric sleep tracking. Sleep Numbers proprietary SleepIQ technology platform - one of the most comprehensive databases of biometric consumer sleep data is proving the connection between sleep and wellbeing. With breakthrough innovations such as the revolutionary Sleep Number 360 smart bed, Sleep Number is redefining the future of sleep and shaping the future of health and wellness. Sleep Number has over 550 Sleep Number stores located in all 50 states.

Exclusively Listed By

Broker of Record

  • John Krueger

    Vice President / Regional Manager

    License(s): CT: REB.0791913

    Connecticut

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