Buffalo Wild Wings | Hanover PA

Retail

81 Wilson Ave Hanover, PA 17331
Price:
$ 2,736,000
Property Size:
5,000 sqft
Cap Rate:
5.75
NOI:
$ 157,300
Lot Size:
1.50 acres
Units:
1
Year Built:
2012
Status:
Sale

STRONG CORPORATE OPERATOR
Buffalo Wild Wings was founded in 1982 and operates approximately 1,300 locations across all 50 states and 10 countries. In February 2018, Inspire Brands acquired Buffalo Wild Wings in a $2.9 Billion deal. Inspire Brands is the second largest restaurant company in the United States with $30 Billion in Global Sales, 32,000 restaurant locations, 3,400 franchisees and over 650,000 company and franchise team members. The tenant operating the Subject Property is Blazin Wings, Inc. which is a subsidiary of Buffalo Wild Wings, Inc.

GREAT LOCATION AS AN OUTPARCEL TO THE GATEWAY HANOVER SHOPPING CENTER
The Subject Property is very well located within Hanover, Pennsylvania. Hanover is the second largest town within York County which is home to approximately 450,000 people. The Subject Property has great visibility to the Gateway Hanover Shopping Center, which is the largest power center in Hanover. Anchor tenants to the center include: Target, Sam’s Club, Dick’s Sporting Goods, Hobby Lobby, Petsmart, Ross and Old Navy.

BUILD TO SUIT IN 2012 – PASSIVE LEASE STRUCTURE
The tenant is operating under an original 15 year lease with approximately 5.5 years remaining on the primary term. There are an additional three (3), five (5) year options to extend the lease with 10% rental increases in each option. The lease structure is NN with the landlord obligations being limited to the roof and structure only.

GROWING AND NEWLY DEVELOPED AREA AND STRATEGIC RETAIL CORRIDOR
The Subject Property is located within a new retail corridor that has been developed in the last 10 years and continuing to grow. Most recently, Dick’s Sporting Goods is currently occupying the Gateway Hanover Shopping Center as a newly built addition and end-cap to the shopping center. Additionally, the land surrounding the adjacent Sam’s Club is being sold and developed.

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The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

Exclusive Listing

Phillip Butts
Senior Analyst
918.878.9534
Ken Hedrick
Executive Managing Director
918.878.9540
Jerry Hopkins
Executive Managing Director
918.878.9536
D. Andrew Ragsdale, Esq.
Senior Managing Director
918.878.9535

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