Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 155 W. Sunrise Highway, Parc Vendome, a ‘NNN’ five-unit 1.5-acre shopping center on W. Sunrise Highway in Lindenhurst, Long Island. The shopping center sits on approximately 1.5 acres of land with over 300 feet of frontage on Sunrise Highway and an additional 236 feet on Straight Path.
Parc Vendome contains an approximately 16,852 square foot building which consists of 14,477 square feet on the ground floor and an additional 2,375 square feet of loft space on the second floor. The building is made of the highest quality construction, re-built in 2008. It has a fully-sprinklered fire alarm, includes HVAC units, Nicolock pavers, grease traps installed, delivery gate, and separate utility meters. Parking is available on-site for up to 74 cars.
Currently Popeye’s, Dunkin’ Donuts, and LI Premier Physical Therapy occupy approximately 8,252 square feet of the building within three units. There is about 8,600 square feet of vacant space, previously operated as a supermarket. The vacant space consists of 7,100 square feet on the ground floor and 1,500 square feet of loft space.
Popeye’s is operating under a 20-year lease and has been in place since April 2011. This location for Popeye’s is the highest grossing in sales volume on Long Island. Dunkin’ Donuts is operating under a 20-year lease with (1) 10-year option to renew, and has been in place since October 2010. Lastly, LI Premier Physical Therapy is operating under a five-year lease and is currently in their five-year option expiring in 2019.
Parc Vendome is placed on a highly-frequented corner at W. Sunrise Highway and Straight Path. This location sees an average daily traffic count of 72,000 cars and sits conveniently at a four-way traffic light. It offers two ways of egress and ingress, one on W. Sunrise Highway and on Straight Path. This part of Sunrise Highway is a highly-frequented retail corridor with multiple shopping centers including NNN-credit tenants such as Wendy’s, Big Lot, Bank of America, 7-11, and Domino’s Pizza.
A full offering memorandum is available upon request.