Mad River Green Shops 109 Mad River Green Shopping Center

Investment Highlights

Anchored by Shaw's Supermarket.

Executive Summary

Mad River Green Shops is a 64,500 square foot grocery-anchored mixed-use shopping center located in Waitsfield, Vermont encompassing +20 acres in a picturesque village-style shopping center with a Vermont farm barn aesthetic. The center is strategically located along on Route 100, Waitsfield?s primary thoroughfare and connection to Interstate 89, and serves as Waitsfield?s town center. The property is anchored by a high-volume Shaw?s Supermarket, Ace Hardware, Northfield Savings Bank, and US Post Office. Waitsfield is located in the Mad River Valley in the heart of the Green Mountains and is best-known for being a year-round destination generating a strong tourism economy. In the summer and fall, Waitsfield is a popular destination for weddings, leaf peeping, hiking, biking, kayaking, rafting, golfing, fishing, and zip-lining. In the winter and spring, Waitsfield is home to Sugarbush Resort and Mad River Glen. Sugarbush is one of the largest ski resorts in New England and encompasses more than 4,000 acres. It is the second largest ski mountain in Vermont after Killington, and the third largest in New England. Mad River Glen was ranked by SKI Magazine as New England?s most challenging ski mountain.Mad River Green Shops is the region?s most well-established retail property. In addition to the anchor tenants mentioned above, the center also has a number of long-term service-oriented retail stores, 12,000 square feet of office space, and 4 residential apartments.Shaw?s Supermarket occupies 15,094 square feet and master leases its entire 3-acre parcel. They are responsible for all operating, maintenance, repair, and replacement expenses. Shaw?s has operated at this location for 27 years after purchasing the location from Grand Union which had been in operation since 1984. Shaw?s currently is paying a well below market rent of $8.85 PSF and has impressive sales of $722 PSF ($10,902,239), which have increased by 37% in the past 2 years. Additionally, Shaw?s enjoys a health ratio of 1.2%, which is well below the industry standard. Both Hannaford and Price Chopper have continued to express significant interest in the Shaw?s location in the slim chance that Shaw?s were to vacate at the end of its lease term. Additionally there is +/- 12,000 square feet of first and second story wood beamed office space. There are also 4 residential apartments that range from 1 to 2 bedrooms and are 100% occupied. The apartments were all built and/or renovated with high-end finishes in 2005. The apartments are heavily sought after given the high demand and low supply of rentals in the valley. Furthermore, abutting the Shaw?s parcel is a commercially zoned 3-acre land parcel that would allow for future residential, retail and/or office development.Due to Vermont?s stringent environmental laws, including ACT 250, and challenging terrain, there are significant barriers to new major development throughout the Mad River Valley region, making The Mad River Green Shop well positioned to continue its market dominance.?Please contact Duncan Harris for more information including the Offering Memorandum

• Sale Type    Investment
• Property Type    Retail
• Property Subtype    Retail
• Building Size    64,500
• Building Class    C
• Year Built    1960
• Price    6,900,000
• Price Per SF    107
• Percent Leased    100
• Tenancy    Multiple
• Building Height    2 Stories
• Building FAR    0.09
• Land Acres    16.94 AC