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OFFERING SYNPOSIS
OFFERING SYNPOSIS
1 SHOPPES AT PAGE POINTE Offering Memorandum
INVESTMENT HIGHLIGHTS
LONG-TERM, NNN LEASE
Provides secure cash flow generated by LA Fitness, which has a long-term NNN lease signed by the
corporate entity, Fitness International LLC, expiring in May 2027
HIGH PERFORMING TGI FRIDAYS
Benefitting from an exceptional location, TGI Fridays
posted strong sales in 2016 and recently extended
its lease through October 2023
$
STRONG SALES
2
SUPERIOR HIGHWAY VISIBILITY
With signage and visibility
on Route 24, the area’s
major highway featuring
traffic counts in excess of
123,800 vehicles per day,
Shoppes at Page Pointe is
strategically located and
conveniently accessed by
Exit 20 (Route 139)
ATTRACTIVE DEMOGRAPHICS
Three-, five- and ten-mile population counts of approximately
59,800, 150,300 and 780,200, respectively and average
household incomes of $95,100, $96,300 and $98,000
OFFERED FREE AND CLEAR OF EXISTING DEBT
The center is being offered unencumbered, allowing investors
to capitalize on historically low interest rates and aggressive
lender underwriting
SHADOW-ANCHORED BY TARGET
Positioned adjacent to
Target, Shoppes at Page
Pointe is the beneficiary
of excellent daily traffic
generated by one of the
country’s strongest retailers.
$96,300
150,300
AHHI
People
5 -Mi les
$95,100
59,800
AHHI
People
3 -Mi les
$98,000
780,200
AHHI
People
10 -Mi le
s
24139
28,700 VPD 123,800 VPD
3 SHOPPES AT PAGE POINTE Offering Memorandum
EXECUTIVE SUMMARY
NKF Capital Markets has been exclusively retained to sell Shoppes at Page Pointe, a premier
50,900 square foot, two-tenant asset anchored by LA Fitness with a restaurant outparcel
currently leased to TGI Fridays. Shoppes at Page Pointe, located in Stoughton, Massachusetts,
is driven by fundamentally desirable investment characteristics – anchored by a long-term
NNN lease to LA Fitness, strategic location with exceptional visibility from both Route 24 and
Route 139, high-performing TGI Fridays and adjacency to a high-volume Target. The asset is
being offered without a formal asking price, free and clear of existing debt.
100’
100’
58’
40
70’
100’
100’
38’
84’
30
150’
192’
214’
222’
45,000 SFLX MAY 2027
5,900 SFLX OCT 2023
LA | F I T N E S S
Shadow Anchor144,000 SF
29
,00
0 V
PD
139
123
,80
0 V
PD
3-MILES59,800 People$95,100 AHHI
5-MILES150,280 People$96,300 AHHI24
95
1
WESTWOOD
STOUGHTONCANTON
IKEA
Ocean StateOcean State
Ocean StateOcean State
Ocean StateOcean State
FIVE GUYSB U R G E R S a n d F R I E S
SOUTH SHORE PLAZA
macys
LA | F I T N E S S
®
LA | F I T N E S S
Shadow Anchor
24
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MARKET OVERVIEWShoppes at Page Pointe is part of the Route 128 South retail submarket, located in Stoughton, Massachusetts, just 30 minutes south of the city of Boston. The Route 128 South submarket consists of prestigious residential communities, contributing to the area’s healthy shopping center occupancy rate of 98.8% and providing direct access to regional highways including Route 128 (U.S. I-95), U.S. I-93 and U.S. I-495. The Route 128 South market is one of the largest retail markets in Massachusetts with over 10 million square feet of shopping center space and is home to a “who’s who” of national retailers including Target, IKEA, Stop & Shop, Costco, The Home Depot, Jordan’s Furniture, Staples, Christmas Tree Shops, Bob’s Stores, Kohl’s, Bob’s Discount Furniture, La-Z-Boy and Mattress Firm.
Nationally-renowned as one of the strongest real estate markets, the New England retail market is driven by its incredible fundamentals. In addition to the region’s excellent demographics, the New England area poses many barriers-to-entry which are both geographic and regulatory in nature. Inventory remains in-check and, perhaps more importantly, the combination of the region’s large population, high household incomes and arduous barriers-to-entry ensure that Shoppes at Page Pointe is well-positioned for the future.
CHRISTOPHER PETERSONSenior Financial Analyst
(617) [email protected]
SAMANTHA TORTOFinancial Analyst
(617) [email protected]
Exclusively Offered By:
225 Franklin Street, Suite 3300Boston, MA 02110
ROBERT E. GRIFFIN, JR.U.S. Head of Capital Markets
(617) [email protected]
JUSTIN SMITHManaging Director
(617) [email protected]
GEOFFREY MILLERDExecutive Managing Director
(617) [email protected]
The information contained in this Offering SYNPOSIS (“SYNPOSIS”) is highly confidential, furnished solely for the purpose of review by a prospective investor (“Principal”) of Shoppes at Page Pointe (the “Property”) and is not to be used for any other purpose or made available to any other person without the express written consent of the owner of the property (“Owner”) and NKF Capital Markets (“NKF”). No warranty or representation, express or implied, is made by Owner, NKF or any of their respective affiliates as to the accuracy or completeness of the information contained herein or as to engineering or environmental matters. This SYNPOSIS is the property of Owner and NKF and may be used only by Principals approved by Owner and NKF. No portion of this SYNPOSIS may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of Owner and NKF.
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