Selling off individuals parcels, especially spaces occupied by grocers or other highly regarded tenants, is not uncommon for real estate investors. Buffalo, New York-based Wegmans Food Markets Inc. started its lease on the space at 500 Montgomery Mall North in November 2013. The lease expires in November 2033 and there are five 10-year options to extend the lease.
ExchangeRight specializes in buying net-leased properties — a lease where the tenant pays at least some of the property taxes, maintenance fees and insurance costs. The company's website also says it looks for deals involving long-team leases and"grocery-anchored shopping centers with investment-grade or equivalent-credit grocery anchors, strong operations/store sales, and strong retail locations.
Is Wegners moving in? They have some high priced crudite.
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