Absolute NNN Opportunity

Essential CRE is pleased to present the opportunity to acquire the fee simple interest in Best Buy, anchor tenant in the Slater Street Shopping Center. The subject property is 36,709 square feet and resides on 3.27 acres located directly off Buckland Hills Drive and Slater St in Manchester, CT (Hartford County). The fully leased Slater Street Shopping Center features a nationally recognized tenant lineup that includes Advance Auto Parts, DSW Designer Shoe Warehouse and Mattress Firm. The Shoppes At Buckland Hills (Regional Mall) and Walmart Supercenter are in the immediate proximity, providing consumer spill over. Best Buy offers an absolute NNN lease structure providing passive income with zero landlord responsibilities.

High-Visibility National Credit, Big Box Asset with 3.5 Years Remaining on NNN Lease - Two, 5-Year Option with 3% Increase
Credit Rated Corporate Tenant (NYSE: "BBY"); $8 Billion of Revenue Growth Past 2 Years, $51.8 billion of Revenue in FY22 Surpassing FY25 Financial Target
Strong Demographics; Over 129,563 Residents and an Average Household Incomes of $112,205 within a 5-Mile Radius

Loan Amount $7,100,000 Loan-to-Value 67.0% Term 5, 7 or 10 Years Interest Rate 6.75% +/- 0.25% Amortization 30 Year Amortization
Loan Amount $7,000,000 Loan-to-Value 65.0% Term 5, 7 or 10 Years Interest Rate 6.35% +/- 0.25% Amortization 30 Year Amortization
Loan Amount $6,600,000 Loan-to-Value 60.0% Term 5 or 10 Years Interest Rate 6.55% +/- 0.25% Amortization 3 Year I/O followed by 30 Year Amortization

Manchester is situated in central Connecticut, approximately 10 miles east of Hartford, the state capital. It is bordered by several other towns, including South Windsor, East Hartford, Glastonbury, Bolton, and Vernon. he town of Manchester was originally settled in the 17th century, and it was incorporated in 1823. Throughout its history, Manchester has been known for its industrial past, particularly in the 19th and early 20th centuries when it was a significant mill town. The Cheney Brothers Historic District, located in the town, is a National Historic Landmark that represents Manchester's textile manufacturing heritage.
Manchester is a diverse and vibrant community with various neighborhoods and residential areas. Downtown Manchester is the central business district, offering shops, restaurants, and community events. While Manchester's industrial prominence has diminished, the town's economy has diversified over the years. Retail, healthcare, education, and various services are among the primary economic sectors. Manchester enjoys convenient transportation access due to its proximity to major highways, including Interstate 84 and Interstate 384. This allows for easy travel to nearby cities and throughout the state.