2 Penn Place & 70 Nardozzi Place | NNN Ground Lease Portfolio - NY

Jones Lang LaSalle America, Inc. (“JLL”) is pleased to exclusively present the rare opportunity to acquire the fee position in 2 Penn Place, Pelham, NY ("Pelham Manor") and 70 Nardozzi Place, New Rochelle, NY ("70 Nardozzi"; both sites known as the “Land,” “Sites” or “Portfolio”), located 20 miles from Manhattan. Pelham Manor is subject to an existing ground lease with 14.4 years remaining (expiration of March 2040) and is currently improved by a retail shopping center development that comprises best-in-class retail, including BJ’s Wholesale, Lidl, Five Below, PetSmart, and Dollar Tree as anchor tenants. 70 Nardozzi is subject to an existing ground lease with 92.3 years remaining (expiration of January 2118) and is currently improved by a mixed-use development with the City of New Rochelle (Moody’s: Aa2) municipal offices at grade level, LA Fitness and Dello Russo Laser Vision on the second level, and an above-grade parking field supporting the property. The irreplaceable real estate is in two of the most sought-after submarkets in New York. Both Sites benefit from proximity to both the Amtrak and Metro-North railway networks that ensure flexibility for local travel, along with accessibility to major highways like I-95, Boston Post Road (US-1), and the Hutchinson River Parkway, attracting commuters and residents while enhancing its role as a regional transportation hub. This opportunity to acquire irreplaceable Land with contractually increasing stable cash flow at the epicenter of the country’s most notable city is extremely rare and presents a truly generational opportunity.