Free Standing Properties and links to other Free Standing
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Free Standing Properties and links to other Free Standing
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Free Standing Properties and links to other Free Standing
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Massachusetts
Free Standing Properties Property #pnnns 17:21:55

Free Standing Properties Tenant:     Circuit City

Tenant Industry Type:       Retail

State Located:       Massachusetts

Size of Building:       32,748 Square Feet Building

Land Area:       3.29 Acres

Lease Term:       20-Year Primary Lease term.

Options:       There are 2 Options Renewal Periods. Each option is for 10 years.

Lease Type:       NNN - ABSOLUTE TRIPLE NET with NO Landlord responsibilities to the buyer. Tenant is responsible for ALL expenses, including property taxes, maintenance, repairs, all insurance, roof and structure, and all other costs.

Rent Commencement Date:       December 27, 2001

Annual Rental Income (NOI):       From years 1 through year 20 $570,000

Rental Increases:       10% each option period

Price:       $6,514,286

Capitalization Rate (CAP):       8.75%

Lease Guarantor (Primary Signatory):       Circuit City

Terms of Sale:       Cash at Closing

Remarks:      Circuit City, the #2 U.S. Electronics retailer, has about 630 stores across the U.S. For the year ended 2000, the company had $12.6 billion in sales and 198 million in net income.

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