Credit tenant net lease opportunity now available for sale. 48,000 sq. ft., four-story building, plus partial basement, on a lot measuring approximately 14.5 acres. Parking for 105 cars with room for expansion. Tenant is Welch Foods, Inc. (S&P rating: A-). Original 15 year lease term thru 10/31/2020. Currently $87,241 per year + CPI annually + 100 percent of operating costs.
Built in 1910, this historically significant property served as the Welch’s headquarters until 2002 when company operations were consolidated in Concord, MA. The Welch’s Building is still the headquarters for the National Grape Cooperative Association, Inc. (NGCA) whose 1,282 plus members supply Concord and Niagara grapes from vineyards in Michigan, New York, Ohio, Pennsylvania, Washington, and Ontario, Canada. NGCA is the sole owner of Welch’s.
Features
♦ Clear Ceiling Height: 10 ft.
♦ New roof
♦ At the crossroads of Route 20 and Route 394 and just minutes from Interstate 90, Interstate 86, and NYS Route 5, this location could be considered the “Gateway to Chautauqua County” > Location Map
♦ Close proximity to Erie and Buffalo Niagara international airports; Dunkirk and Jamestown local airports
♦ Located within 500 miles of 55% of the U.S. population and 62% of the Canadian population
♦ Welch Foods, Inc. holds original 15 year lease through 10/31/2020, and currently occupies the first floor of the building
♦ Welch’s lease generates $87,241 per year + CPI annually + 100 percent of operating costs
♦ High Speed Internet access and Sophisticated Samsung OfficeServ 7400 phone system, supports both voice and data communication with powerful IP-based wired and wireless flexibility. Regional business headquarters and distribution hub with T-1, DSL and Broadband for national telecom provider located just yards away
♦ Low utility costs > Electric Rate Comparison (.pdf)
♦ Highly motivated, skilled workforce
♦ Affordable housing > Real Estate Listings
♦ Quaint village setting. Enjoy our great video showcasing Westfield, New York and the many wonderful attributes our community features that make it an ideal place to call home. If you would like a tour of Westfield, please visit our Ambassador page.
♦ Excellent school system > Westfield Academy and Central School
Additional Information
Sales Brochure (.pdf)
Property Listing (LoopNet.com)
Property Flyer (LoopNet.com)
This property is also available for lease.
