Marcus & Millichap is pleased to present the exclusive listing for the Stop & Shop plaza located at 209 North Main Street in Andover, MA. The property consists of a shopping center with 17+ tenants anchored by Stop & Shop and Planet Fitness, however there is only one underlying master lease with Stop & Shop. The premises consists of approximately 102,060 square feet of building space and is situated on approximately 17.30 acres of land.
The property is subject to an original 25-year triple net (NNN) single tenant master lease that has approximately 16 years remaining. The rent is set to increase in November of 2021 to $2,940,000 and will continue to increase by 5% every five years throughout the primary term and increases every five years during the two, ten-year options and eight, five-year option periods.