SHOPRITE SUPERMARKET 41 VISTA BLVD, SLINGERLANDS, NY 12159
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SHOPRITE SUPERMARKET 41 VISTA BLVD, SLINGERLANDS, NY 12159 JAMES CAPITAL ADVISORS, INC.
SHOPRITE SUPERMARKET
MARKETING PACKAGE
TABLE OF CONTENTS
03 Investment Summary
04 Lease Summary
05 Rent Growth
06 Retail Aerial
08 Site Plan
09 About the Brand
10 Location Overview
CONTACT INFORMATION
joel cukier
Senior Associate
(424) 325-2618
02 41 VISTA BLVD, SLINGERLANDS, NY 12159 @jamescapitaladvisors
SHOPRITE SUPERMARKET
INVESTMENT SUMMARY
Tenant ShopRite Supermarket
$ $18,662,222
Street Address 41 Vista Blvd LIST PRICE
% 6.75%
City Slingerlands
State NY CAP RATE
Zip 12159
$ $1,259,700*
GLA 65,000 SF NET OPERATING INCOME
Lot Size 7.80 AC Price / SF $287.11
Year Built 2012 Rent / SF $19.38
*The rent increases to $1,324,700 on 5/1/2021 (7.10%)
Strong Corporate Guarantee by Wakefern Food Corporation
The lease is corporately guaranteed by Wakefern Food Corporation, the 20th largest private company in the
U.S. and the largest employer in the state of NJ with over with over 70,000 employees and $16.6 billion in
annual revenue.
Minimal Landlord Responsibilities
The lease is structured as a Modified Triple-Net (NNN) lease with the tenant responsible for maintaining the
roof, structure, parking lot, CAM, taxes and all utilities for the property for the full term of the lease and renewal
options. The landlord is responsible to replace the roof after the initial term of the lease and when the roof
warranty expires in 2031.
Long-Term Lease Remaining
Shoprite is operating under a 20 year lease which commenced in May of 2011 and expires in April of 2031 with
multiple options to renew giving the landlord a longterm stable income stream.
03 41 VISTA BLVD, SLINGERLANDS, NY 12159
SHOPRITE SUPERMARKET
LEASE SUMMARY
Lease Type Modified Triple-Net (NNN) Real Estate Taxes Tenant Reimburses
Type of Ownership Fee Simple Insurance Tenant Reimburses
Original Lease Term 20 Years Roof & Structure* Landlord Responsible
Commencement Date 5/1/2011 Lease Guarantor Corporate
Lease Expiration 4/30/2031 Company Name Wakefern Food Corp
Term Remaining 11 Years Ownership Private
Increases $1 Per Foot Every 5 Years Years in Business 74
Options Five (5), 5-Year & One (1), 3.5-Year Number of Locations 276
*The tenant is responsible for the structure and the maintenance of the roof. The landlord is
responsible to replace the roof at the end of the base term and at the end of the warranty.
Suburb of Albany NY with Excellent Retail Demographics
This site was strategically constructed in 2011 to cover a gap in the market and serve the Slingerlands suburb of
Downtown Albany, the state capital of New York. The site benefits from the above average household income
of over $125,000 in the one-mile radius to the site and the 128,000+ people living within the five-mile radius.
Attractive Rental Increases
The lease calls for a $65,000 rental increase every five years in the base term of the lease and the six, five year
renewal options providing the investor with excellent rent growth and a great hedge against inflation.
Single Tenant Supermarket Essential’s Retailer
The supermarket sector is widely regarded to be one of the strongest retail sectors in the retail market with nearly
twice as many new stores opening than closing year over year and is considered to be somewhat ecommerce
proof. The positive growth of the grocery segment has also been fueled by the outbreak of coronavirus in the
U.S. and many states mandating people staying at home.
04 41 VISTA BLVD, SLINGERLANDS, NY 12159
SHOPRITE SUPERMARKET
RENT GROWTH
Period Term Annual Rent Monthly Rent Increase CAP Rate
5/1/2016 - 4/30/2021 Base Term $1,259,700 $104,975.00 - 6.75%
5/1/2021 - 4/30/2026 Base Term $1,324,700 $110,391.67 5.16% 7.10%
5/1/2026 - 4/30/2031 Base Term $1,389,700 $115,808.33 4.91% 7.45%
5/1/2031 - 4/30/2036 1st Option $1,454,700 $121,225.00 4.68% 7.79%
5/1/2036 - 4/30/2041 2nd Option $1,519,700 $126,641.67 4.47% 8.14%
5/1/2041 - 4/30/2046 3rd Option $1,584,700 $132,058.33 4.28% 8.49%
5/1/2046 - 4/30/2051 4th Option $1,649,700 $137,475.00 4.10% 8.84%
5/1/2051 - 4/30/2056 5th Option $1,714,700 $142,891.67 3.94% 9.19%
5/1/2056 - 10/31/2059 6th Option $1,779,700 $148,308.33 3.79% 9.54%
05 41 VISTA BLVD, SLINGERLANDS, NY 12159
SHOPRITE SUPERMARKET
RETAIL AERIAL
06 41 VISTA BLVD, SLINGERLANDS, NY 12159
SHOPRITE SUPERMARKET
RETAIL AERIAL
07 41 VISTA BLVD, SLINGERLANDS, NY 12159
SHOPRITE SUPERMARKET
SITE PLAN
08 41 VISTA BLVD, SLINGERLANDS, NY 12159
SHOPRITE SUPERMARKET
ABOUT THE BRAND
ShopRite
ShopRite is the registered trademark of Wakefern Food Corp., a retailer-owned cooperative based in Keasbey,
NJ, and the largest supermarket cooperative in the United States. With more than 276 ShopRite supermarkets
located throughout New Jersey, New York, Pennsylvania, Connecticut, Delaware and Maryland, ShopRite
serves more than six million customers each week. ShopRite has been the largest retailer of food in New Jersey
for close to 70 years and is also number one in the entire New York metropolitan area. Since 2011, ShopRite is
also the largest retailer of food in Greater Philadelphia.
The philosophy of ShopRite is simple: Members knew that they had to “buy right” to offer their customers
the best prices. Most ShopRite stores are family-owned to this day, many with second, third, or even fourth
generation members. Through more than 60 years of service, it has built its reputation as a low-price leader
while offering its customers unprecedented variety and customer service.
Wakefern Food Corp.
From a small, local cooperative that began with eight grocery store owners, Wakefern Food Corp. has grown
into the largest retailer-owned cooperative in the United States. Founded in 1946, the cooperative comprises
51 member companies who today independently own and operate 354 supermarkets under the ShopRite, The
Fresh Grocer, Price Rite Marketplace, Gourmet Garage and Dearborn Market banners in New Jersey, New York,
Connecticut, Pennsylvania, Maryland, Delaware, Massachusetts, Rhode Island, and New Hampshire.
Wakefern Food Corp. Announces Major Hiring Initiative
As a result of the dramatic increase in demand and volume across its stores, Wakefern and its members have
kicked off a hiring push to fill a variety of positions across its warehouses and stores. The goal is to keep
stores fully staffed during this challenging time and continue to provide the best possible customer service to
shoppers and the communities where stores operate amid the Covid-19 pandemic.
09 41 VISTA BLVD, SLINGERLANDS, NY 12159
SHOPRITE SUPERMARKET
LOCATION OVERVIEW
Slingerlands, NY
Slingerlands is located immediately west of Delmar and near the New Scotland town-line and south of the
Albany city-limits. Slingerlands is predominately residential, with commercial properties mostly along New
Scotland Road from the Albany city-line south to the intersection with Kenwood Avenue. Many historic homes
and buildings from the 1800s still stand in the heart of the hamlet, many of which are associated with the
founding family of the Slingerland’s.
Slingerlands is a hamlet in the town of Bethlehem, Albany County, New York. Its location in Albany County, New
York offers a unique combination of friendly neighborhoods and rural beauty. Bethlehem offers high-quality
school systems, excellent recreational facilities for young and old, and superb programs and services at a cost
that is both reasonable and fair to taxpayers. Its blend of suburban neighborhoods, rural life, and commercial
enterprises make it a pleasant, attractive, and enjoyable community for businesses and residents alike.
Albany, NY
The City of Albany, located on the banks of the Hudson River in the heart of the Capital District, is proud to
be New York State’s Capital City. Albany constitutes the economic and cultural core of the Capital District of
New York State, which comprises the Albany–Schenectady–Troy, NY Metropolitan Statistical Area, including
the nearby cities and suburbs of Troy, Schenectady, and Saratoga Springs. Albany is a beautiful destination,
offering valuable resources for higher education and sustainable living, vibrant and active urban centers and
desirable neighborhoods. The city’s deep-rooted history and heritage have shaped the city’s urban footprint,
complimenting its natural setting along the waterfront and its reflection of historic architecture, major institutions,
mixed neighborhoods and diversity of residents.
Proximity to University at Albany
The subject property is located just 4.5 miles from the University at Albany with over 17,750 full time students
annually.
10 41 VISTA BLVD, SLINGERLANDS, NY 12159SHOPRITE SUPERMARKET
LOCATION OVERvIEW
1. New York State Capitol
State St. and, Washington Ave, Albany, NY 12224
6.9 MILES FROM SUBJECT PROPERTY
2. New York State Museum
222 Madison Ave, Albany, NY 12230
6.5 MILES FROM SUBJECT PROPERTY
3. USS Slater
1 Quay St, Albany, NY 12202
7.9 MILES FROM SUBJECT PROPERTY
4. Times Union Center
51 S. Pearl St, Albany, NY 12207
8.2 MILES FROM SUBJECT PROPERTY
5. University of Albany
1400 Washington Ave, Albany, NY 12222
4.9 MILES FROM SUBJECT PROPERTY
6. Washington Park
State and Willet Streets, Albany, NY 12210
6.2 MILES FROM SUBJECT PROPERTY
11 41 VISTA BLVD, SLINGERLANDS, NY 12159SHOPRITE SUPERMARKET
LOCATION OVERvIEW
01 02 03
NEW YORK STATE CAPITOL NEW YORK STATE MUSEUM USS SLATER
The Capitol BUILDING was completed The museum houses art, artifacts & The ship is a Cannon-class destroyer
in 1899 at a cost of $25 million. ecofacts that reflect NY culture. escort that served in the U.S Navy.
04 05 06
TIMES UNION CENTER UNIVERSITY OF ALBANY WASHINGTON PARK
This indoor arena can accommodate The university has over 17,750 full The 81-acre park was created during
from 6,000 to 17,500 people. time students annually. the 1870s-80s with Great amenities.
12 41 VISTA BLVD, SLINGERLANDS, NY 12159SHOPRITE SUPERMARKET
DEMOGRAPHICS
POPULATION 1-Mile 3-Mile 5-Mile
2024 Projection 2,184 31,518 128,706
2019 Estimate 2,074 31,627 128,141
2010 Census 1,534 32,799 127,325
Growth ‘19 - ‘24 5.30% -0.34% 0.44%
Growth ‘10 - ‘19 35.20% -3.57% 0.64%
HOUSEHOLDS 1-Mile 3-Mile 5-Mile
2024 Projection 894 13,944 52,018
2019 Estimate 854 14,004 51,841
2010 Census 661 14,595 51,957
Growth ‘19 - ‘24 4.68% -0.43% 0.34%
Growth ‘10 - ‘19 29.20% -4.05% -0.22%
Average Income $167,706 $118,549 $89,407
Median Income $125,704 $87,934 $65,662
13 41 VISTA BLVD, SLINGERLANDS, NY 12159SHOPRITE
DISCLAIMER
The information contained in this Marketing Brochure has been obtained from sources believed to be reliable, but the accuracy or completeness of the information contained therein cannot be guaranteed. James
Capital Advisors, Inc. & R. Scott Burdett (“Broker”) has not, and will not, verify any of this information, nor has Broker conducted, nor will it conduct, any investigation regarding these matters. Broker makes no
representations, guarantees, or warranties of any nature about the accuracy or completeness of any information provided. The information provided in this brochure is in no way a substitute for a thorough due
diligence investigation by Buyer. Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to income and expenses for this property nor the future
financial performance of the property. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties as to the size and square footage of the property, the presence
of any contaminating substances at the property, the physical condition of the property or compliance with any State, Local or Federal regulations. In addition, Broker has made no investigation of, and has made
no representations, guarantees, or warranties of any nature, with regard to the financial condition or future financial condition of any tenants, nor any future plans or intentions of tenants with regard to the continued
occupancy of the property. All parties are aware that Broker has no affirmative obligation to conduct a due diligence examination of the property for any Buyer. Any and all projections or estimates used in this
Marketing Brochure are for example only and do not represent the current or future performance of this property. Therefore, Broker assumes no legal responsibility for accuracy or completeness of this information,
and expressly disclaims all representations, guarantees, or warranties related thereto.
The value of the property to any Buyer depends on numerous factors that must be evaluated by Buyer and Buyer’s legal, tax, construction, and financial advisors. Buyer and Buyer’s advisors should conduct a
thorough, independent investigation of the property to determine its suitability for Buyer’s intended usage. This investment, as with all real estate investments, carries a substantial risk. As such, Buyer and Buyer’s
legal and financial advisors are strongly advised to request and review all legal and financial documentations related to the property and tenants.
A tenant’s past performance is not a guarantee of future performance. The lease rate stated for some properties may be based on a tenant’s projected sales with little or no record of actual performance or com-
parable rents for the area in question. Returns are in no way guaranteed. Tenants may fail to pay the rent or property taxes or any other tenant obligations under the terms of the lease or may default under the
terms of such lease. Regardless of tenant’s history of performance, and/or any lease guarantors and/or guarantees, Buyer is responsible for conducting Buyer’s own investigation of all matters related to any and
all tenants and lease agreements. Broker is not, in any way, responsible for the performance of any tenant or for any breach or default by any tenant of any terms of any lease agreement related to the property.
Further, Buyer is responsible for conducting Buyer’s own independent investigation of all matters related to the value of the property, including, but not limited to, the value of any long-term leases. Buyer must
carefully evaluate the possibility of tenants vacating the property or breaching their leases and the likelihood and financial impact of being required to find a replacement tenant if the current tenant should default
and/or abandon the property. Buyer must also evaluate Buyer’s legal ability to make alternate use of the property in the event of a tenant abandonment of the property.
CONFIDENTIALITY
This Marketing Brochure and the information contained within, is propriety and strictly confidential. It is intended to be used only by the party receiving it from Broker. It should not be made available to any other
person or entity without the express written consent of Broker.
RELEASE
This Marketing Brochure has been prepared to provide basic, unverified information for prospective purchasers. By accepting this Marketing Brochure, the recipient agrees to release and hold harmless Broker from
any claim, demand, liability or loss arising out, or relating in any way, to the information contained in this Marketing Brochure and from Buyer’s investigation of the property. In no event shall James Capital Advisors,
Inc. or Broker be liable to any party for any direct, indirect, special, incidental, or consequential damages of any kind whatsoever arising out of the use of this Marketing Brochure or any information contained herein.
NON-ENDORSEMENT
Broker is not affiliated with, endorsed by or sponsored in any way by any tenant or lessee identified in this Marketing Brochure. The presence of any entity’s logo or name is not intended in any way to indicate
affiliation, sponsorship or endorsement by said entity of Broker.
14 www.jamescapitaladvisors.com @jamescapitaladvisorsSHOPRITE
CONTACT INFORMATION
LISTING AGENT
joel cukier
Senior Associate
(424) 325-2618
joel@jamescapitaladvisors.com
CA RE Lic. 02005095
BROKER OF RECORD
R. Scott Burdett
Flaum Management Company, Inc
(585) 546-4866
sburdett@flaummgt.com
Rochester, NY
CORP. Lic #: 109926090
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