Newmark has been retained on an exclusive basis to offer for sale 101 Richmond Hill Road, Staten Island, NY 10314 (the “Property” or “Offering”). The Property is situated within the Staten Island Mall shopping center, located in the New Springville submarket of Staten Island.
The Property is a single-story 50,000 square foot free-standing retail building with 333 parking spaces. The building features 20’ ceiling heights and 3 loading docks.
101 Richmond Hill Road is 100% leased to Floor & Decor, a specialty retailer for high quality flooring and tile. Floor & Decor spent over $10,000,000 ($200 PSF) on the fit-out of their first Staten Island store.
Floor & Decor signed a 15-year NNN lease starting at an annual rent of $1,750,000 with 10% increases every 5 years and an initial expiration date of January 2040 with four 5-year extension options. Tenant is responsible for everything except for roof and structure.