JLL Capital Markets is pleased to offer for sale Lowe’s Plaza in Wallingford, Connecticut. Anchored by a 160,000 square foot Lowe’s Home Improvement store with 12 years of remaining base lease term, the property is also occupied by several of the most desirable names in fast casual dining including Panera, Chipotle and Plaza Azteca, with an unowned Chic-Fil-A driving additional traffic to the site and confirming it as the premier location in the market. Lowe’s Plaza in Wallingford will appeal to investors seeking a stable, long-term term cash flow derived from national credit tenants and limited active operating requirements.
- 176,000 SF, Lowe's anchored shopping center
- Rarely seen weighted average lease term of 12.5 years
- 92% of in place cash flow derived from nationally recognized credit tenants
- Limited landlord capital exposure due to Lowe’s ground lease plus Panera and Plaza Azteca's self-maintenance obligation
- Institutional quality demographics with 115,000 people living within a 5-mile radius, generating an Average Household Income over $90,000
- Aggressive debt terms available from a variety of lenders
- Clearly defined local demand and economic drivers