Leases In Place

DGX

10 year lease + 2x 5 yr options – opening 6/2021

Guaranteed by Dollar General Corporation (Parent Co)

$132,648 annual rent ($24 SF)

~$500k invested in first floor space (both tenant and LL work) including new HVAC, Elec Service etc

NN Lease – tenant maintains their entire premise and pays all costs except RE Taxes

Verizon

~$33,000/yr rooftop lease paid annually

Lease in place since 1995

Current option ends July 2023, with one more 4 year option after

Verizon just spent several hundred $k last year upgrading their towers and has significant investment on roof (and generator in basement) so likely plans to negotiate additional extensions

ATM Tenant

Currently in lease negotiations - $22,000/yr paid monthly, 5yr term with ~4x 5 year options

Corporate Backed Tenant (name released once lease is finalized)

NN Lease – tenant maintains their entire premise and pays all costs except RE Taxes

Upper Floors

Floors 2, 3, 4 are vacant office, ~C+/B- condition

Floors 5 & 6 vacant

Fl 5 old partitions were demo’d early 2020, 6th Floor mostly open, but floors have new self leveled subfloors early 2020

Potential upper floor apartment conversion opportunity. Estimated 5-7 units/fl, $120$130k/unit assuming basic market rate, plus minimal common area improvements, new elevator veneer (system in good condition only needs cosmetic face-lift), Incredible full basement IDEAL for conversion to into gym/rec room.