Del Ton Plaza – Tonawanda, NY
Overview
100% Occupied, 55,473 SF Neighborhood Strip Center in Tonawanda, New York (Buffalo MSA). Anchored by Valu Home Centers, Tenant Since 1990 (35.5% of GLA); In Business Since 1968 with 41 Stores in Western NY + PA. Above Average Sales for Rite Aid of $8.5 Million – Below 2% Rent to Sales Ratio! Valu Home Centers is Leased through 12/2024 with 15.6% Rent Increase on 1/2020. Upcoming Rent Increases in the Base Term will Add $30,000+ to NOI. Very Stable Tenant Base with High Historical Occupancy: 70% of the GLA has been Leased to the Same Tenants for 25 Years or Longer. Complete Renovation in 2009-2012 Including Work Done to the Façade, Parking Lot, and Roof. Ease of Management – Only 8 Tenants, All are NNN. 100% Recovery of RET/CAM/INS; 99% Overall Recovery Including Mgmt Fee Reimbursement & Admin Fees. Offers 13.9% C/C Return & 20.2% Total Return at Proposed Financing Terms of 75% LTV, 4.85% IR, 25 Yr AM. Rite Aid & Dollar Tree Comprise 43% of the GLA – In-Place Since 1985 & 2001, Respectively. Complementary Mix of E-Commerce-Proof Small-Shop Tenants – Coffee Crazy Just Signed 3-Yr. Renewal with a 5.6% Rent Increase. Dense Infill Neighborhood: 10,573 Residents within 1-Mi, 103,003 Residents in 3-Mi, and 250,534 Residents in 5-Mi. Strong Traffic Counts: 17,000 Cars/Day on Delaware Ave; 0.1-Mile from I-290 with 107,083 Cars/Day. Buffalo, NY MSA has a Population of 1.2 Million; Del-Ton Plaza is 7 Miles from Downtown Buffalo & 12 Miles from Niagara Falls
List of Tenants
- Rite Aid
- Dollar Tree
- Valu Home Centers
- KeyBank
- The Ideal You Weightloss Center
- Coffee Crazy
- Subway
- Giovanni Hair Fashions
Leasing Brokers
Erin Patton
(614) 360-9035
Scott Wiles
(216) 264-2026
Craig Fuller
(216) 264-2043
Site Plan
