I R R E P L AC E A B L E U R B A N R E TA I L / M O U N T V ER N O N / N E W YO R K

EXECUTIVE SUMMARY
THE OFFERING INVESTMENT SUMMARY
As exclusive brokers, RHYS is pleased to offer an extremely rare opportunity
Address 555 & 500-600 East Sandford Boulevard, Mount Vernon, NY
to acquire one of the most dominant high quality retail centers in the New
York metropolitan area. This subject property has a total of 290,852 SF in two County Westchester, NY (17 miles from NYC)
separate structures, along with parking garages containing 995 spaces for the Buildings 243,411 SF (Target: 141,126 SF / Remainder: 102,285 SF)
Target anchored center and 388 spaces for the Best Buy building. The offering (Best Buy: 47,441 SF)
does not include the Target store portion of the shopping center (141,126
square feet), as Target owns their own building in a condominium structure. Year Built 2004
The buildings sit on ground leases with the City of Mount Vernon. However, the Occupancy 100% (since inception)
land below the Target Center reverts ownership to the building owner at the
NOI (2017) $4,402,569
conclusion of the ground lease term.
Debt Free & Clear
The subject properties are 100% leased and have been since it was built in 2004.
The center's occupants are all highly regarded national retailers, Target, Bed SA LE D E TA IL S
Bath & Beyond, TJ Maxx, Petco, Famous Footwear, and Best Buy. The tenant mix The properties can be purchased separately or as a package. The Properties are being
is built to sustain over time and remain dominant in the market. The properties offered for sale without a formal asking price. Once qualified investors have had
provide a purchaser with an extremely stable income stream with little to no the opportunity to tour the property and thoroughly review the complete offering
threat of new development competition. memorandum, RHYS will schedule a call for offers.

Located just 23 miles from New York City, Mount Vernon is one of the most If you are interested in receiving a full offering memorandum, please CLICK HERE to
densely populated cities in the state, making any new large scale retail complete a confidentiality agreement.
development nearly impossible. In addition to the market's desirable suburban
demographics, the subject properties also benefit greatly from their visibility and
proximity to the Hutchinson River Parkway, which has a traffic count of 91,800
vehicles per day passing the site with a direct exit onto East Sandford Boulevard
(Exit 8). The Parkway runs north and south from the Bruckner Interchange in Exclusively offered for sale by RHYS. For additional information,
the Throggs Neck section of the Bronx to the New YorkConnecticut state line please contact:
at Rye Brook. The Parkway continues south from the Bruckner Interchange as
the Whitestone Expressway (Interstate 678 or I-678) and north into Greenwich, CORY GUBNER ERIC GRIFFIN
Connecticut, as the Merritt Parkway (Connecticut Route 15). This major President & CEO Vice President
thoroughfare enables a large population from a vast geography to easily access 203.653.1730 203.653.1746
the site. cgubner@rhysre.com egriffin@rhysre.com

OWNERSHIP STRUCTURE T Y L E R LY M A N RYA N S TR A NKO

Senior Vice President Vice President
Target Center Condominium structure over a ground lease.
The land ownership transfers to the condominium 203.653.1743 203.653.1749
owners upon expiration of the ground lease term tlyman@rhysre.com rstranko@rhysre.com

Best Buy Building ownership subject to a ground lease

2
INVESTMENT HIGHLIGHTS
1 0 0 % N E T- L E A S E D P O W E R C E N T E R A N C H O R E D B Y B E S T- I N - C L A S S R E TA I L E R S

C O M P L E T E LY O C C U P I E D W I T H S I X H I G H C R E D I T N AT I O N A L R E TA I L T E N A N T S

PRIME SUBURB JUS T 17 MILES FROM NYC WITH EXCEP TIONAL DEMOG R APHIC S

S T R AT E G I C A L LY L O C AT E D A L O N G T H E H U T C H I N S O N R I V E R P A R K W AY W I T H 9 2 , 0 0 0 V P D

STRONG TENANT SALES AS ALL TENANTS ARE ORIGINAL SINCE 2004

S T R O N G C O -T E N A N T S Y N E R G I E S T O D R I V E T R A F F I C

3
 MANHATTAN YANKEE STADIUM

BRONX ZOO NY BOTANICAL GARDENS

BRONX
CO-OP CITY

EASTCHESTER TRAIN STATION

FAIRWAY MARKET
DAVE & BUSTERS
HOMEGOODS

BJ'S

STOP & SHOP

HUTCHINSON RIVER 550 EAST SANDFORD BOULEVARD

PARKWAY
91,800 VPD
555 EAST SANDFORD BOULEVARD
995 SPACE PARKING GARAGE
388 SPACE PARKING GARAGE

D
VP
00
,0
20
PYLON SIGNAGE MEMORIAL FIELD

EXIT 8