10916 Us Route 11
Adams, NY 13605

Auction:7/24 - 7/26: Tops Grocery Center - Adams ***CLOSING TIMEFRAME IS 30 DAYS. PURCHASER SHALL HAVE TWO OPTIONS TO EXTEND CLOSING DATE BY 15 DAYS EACH, FOR A TOTAL CLOSING PERIOD OF 60 DAYS, AS SPECIFIED IN THE PURCHASE CONTRACT AND ADDENDUM.*** ***BIDDER DEPOSITS MUST BE PLACED ONLY BY WIRE TRANSFER OR CASHIERS CHECK OR PARTICIPATION AGREEMENT. CREDIT CARDS WILL NOT BE ACCEPTED.*** Property tours are available by appointment ONLY. Please contact William C. Colucci at (315) 445-8505 or wcolucci@pyramidbrokerage.com, or John B. Kaman at (585) 248-9426 or jkaman@pyramidbrokerage.com. Investment Highlights: 39,307 SF Tops Family Markets grocery-anchored retail plaza Long-term anchor tenant with in-place lease until 2033 Grocer reports strong sales and earnings at location Tops reimburses Landlord for pro rata share of capital improvements Value-Add opportunity through lease-up of the available 10,062 SF (25.6% of GLA) Potential 9,500 SF building expansion opportunity Investment Overview: 10916 US Route 11 (the "Property") is a Tops Family Markets anchored retail plaza located in Adams, NY. Built in 2000, the Property is situated on a 7.02 acre parcel and contains one single-story building totaling 39,307 SF with five retail units. The plaza is currently 74.4% occupied by two tenants: Tops Family Markets and Northern Federal Credit Union. Tops, a leading supermarket chain with 181 locations in New York, Pennsylvania, Massachusetts, and Vermont, has a long-term lease in-place until 2033 and reports strong sales and earnings at this location. In 2016 the anchor spent $600,000 to update their space, and reimburses the Landlord for pro rata share of any capital improvements made to the property. 10,062 SF of the Property is currently vacant and divided into three smaller retail spaces: 6,077 SF, 2,013 SF, and 1972 SF. There is also a potential building expansion opportunity of 9,500 SF adjacent to the anchor. The Property is an ideal value-add investment through lease-up of available space, the ability to expand, and a predictable cash flow from the long-term Tops lease. The Town of Adams is located in Northern New York, 50 miles north of Syracuse and 50 miles south of the Canadian border along the I-81 corridor. It is located in Jefferson County and as of