Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in a Wheels Gas Station & Convenience Store, located at 313 Naugatuck Ave, Milford, Connecticut (“Property” or “Asset”). Global Montello Group Corp. (“Tenant”) is operating on an Absolute NNN master lease with zero landlord responsibilities, 10.4 years of lease term remaining, four, five-year renewal options, 1.5% annual rent escalations and a corporate guarantee.

The Tenant is a subsidiary of Global Partners LP (“Guarantor”), a major owner and operator of petroleum products terminals, gasoline stations, and convenience stores, across the Northeast, Gulf States, and Texas. Global Partners manages ±1,700 owned, leased, and supplied gasoline stations, including 290 directly operated convenience stores.

Wheels possesses a strategic location just 14 miles from New Haven and 8 miles from Bridgeport, offering immediate access to two of Connecticut's largest urban markets. Positioned directly on Naugatuck Avenue along the I-95 corridor -which sees over 108,000 vehicles per day- the Property benefits from daily traffic volumes on Naugatuck Ave exceeding 10,000 vehicles per day.

The Property is positioned at the heart of an affluent, densely populated community. Within a 5-mile radius of the Property, there are more than 150,000 residents across 59,000 households, boasting an average household income exceeding $121,000. Interstate 95 features seven access points within Milford’s boundaries, an exceptional level of highway infrastructure that gives industrial and distribution users unmatched regional connectivity while the Metro-North rail service connects downtown Milford directly to New York City, serving 72 million riders annually - expanding the commuter draw well beyond the immediate submarket.

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