TARGET | $6,338,095 | 5.25% CAP
The Deltondo Group and Marcus & Millichap are pleased to present for sale Target a single-tenant property located at 40 Catherwood Road, Ithaca, New York 14850. Backed by a strong Corporate Guaranty (NYSE: TGT) Target operates on an absolute-net lease with 4.75 years of term remaining. Target has limited to no competition, the next closest Target is located over 25 miles away. Located just 2 miles away Cornell University enrolls 25,000+ students. Target is Outparcel to The Shops at Ithaca Mall, a 622,920 SF / 58 Store Shopping Mall Shared with Other Major Retailers Michaels, Best Buy, Dick’s Sporting Goods, BJ’s Wholesale and Many Other Mall Tenants.
Target Corp (Target) is a retailer of general merchandise and food products. The company’s product portfolio comprises baby and beauty products, clothing, electronic equipment, furniture, grocery, home and pet products, school and office supplies, shoes, sports and outdoor products, toys, and sports equipment. Target also offers optical, clinics and other amenities, home delivery, photo printing service, rewards, and gift card services. The company leases certain retail stores, warehouses, office space, distribution centers, land, and equipment. Target markets products under owned brands and exclusive brands. It operates stores under Target, Expect More. Pay Less., and Bullseye Design banners. Target is headquartered in Minneapolis, Minnesota.