STABILIZED WATERFRONT OFFICE INVESTMENT

7,000 SF Office Condominium | Credit Corporate Tenant | Hudson Harbor | Tarrytown, NY

EXECUTIVE SUMMARY

127 West Main Street presents investors with the rare opportunity to acquire a fully leased, income-producing office condominium within Hudson Harbor, one of Westchester County’s premier waterfront mixed-use developments.

The offering consists of approximately 7,000 usable square feet of ground-floor office space within Hudson Harbor I Condominium, a distinctive three-story, 58,563-square-foot property constructed in 2009. The premises are 100% occupied by Konica Minolta Business Solutions U.S.A., Inc., a nationally recognized corporate tenant and wholly owned subsidiary of Konica Minolta, Inc.

The tenant has recently notified ownership of its intention to exercise its contractual five-year renewal option, providing a prospective purchaser with enhanced visibility into the property’s long-term occupancy and income profile.

The renewal significantly strengthens the investment thesis at 127 West Main Street. Rather than acquiring an office asset with near-term rollover exposure, an investor has the opportunity to acquire a stabilized, credit-occupied office investment with extended tenancy in one of Westchester County’s most desirable transit-oriented waterfront environments.

The property’s location further differentiates the offering. Hudson Harbor combines distinctive architecture, landscaped courtyards, waterfront access and a highly walkable setting immediately adjacent to the Tarrytown Metro-North Station. The station is approximately a four-minute walk from the property and provides direct service to Grand Central Terminal in approximately 40 minutes.

The property also offers immediate connectivity to I-287, Route 9 and the Governor Mario M. Cuomo Bridge, providing convenient access throughout Westchester, Rockland, Fairfield County, Northern New Jersey and the broader New York metropolitan area.

With 22 reserved parking spaces, a high-quality existing office buildout, strong corporate tenancy, extended lease commitment and an irreplaceable Hudson River location, 127 West Main Street offers investors an opportunity to acquire a highly differentiated Westchester office asset with durable income characteristics.

INVESTMENT HIGHLIGHTS

CREDIT CORPORATE TENANCY

The property is 100% occupied by Konica Minolta Business Solutions U.S.A., Inc., providing institutional-quality tenancy backed by an internationally recognized corporate organization.

TENANT COMMITMENT THROUGH FIVE-YEAR RENEWAL

Konica Minolta has notified ownership of its intention to exercise its contractual five-year renewal option, materially reducing near-term rollover risk and strengthening the property’s long-term investment profile.

100% OCCUPIED / STABILIZED INVESTMENT

The offering provides an investor with immediate income from a fully occupied office condominium rather than the lease-up risk associated with acquiring vacant or partially occupied suburban office space.

PREMIER HUDSON HARBOR LOCATION

127 West Main Street is situated within Hudson Harbor, a highly regarded waterfront mixed-use community combining residential, commercial, restaurant, recreational and public spaces along the Hudson River.

EXCEPTIONAL TRANSIT-ORIENTED LOCATION

The Tarrytown Metro-North Station is approximately 0.2 miles / four minutes on foot, providing direct Hudson Line service to Manhattan and Grand Central Terminal.

22 RESERVED PARKING SPACES

The premises benefit from 22 reserved parking spaces, an important competitive advantage for suburban office users and a valuable component of the tenant’s occupancy.

IRREPLACEABLE WATERFRONT ENVIRONMENT

Employees and visitors benefit from landscaped courtyards, pedestrian areas, waterfront amenities and immediate proximity to the Hudson River—creating an office environment that differentiates the property from conventional suburban office inventory.

STRATEGIC REGIONAL ACCESS

Immediate access to I-287, Route 9 and the Governor Mario M. Cuomo Bridge provides connectivity to Westchester County, Rockland County, Connecticut, Northern New Jersey and New York City.

HIGH-QUALITY EXISTING IMPROVEMENTS

The approximately 7,000-square-foot premises feature an established professional office configuration including private offices, conference rooms, a boardroom, open work areas, server/telecom space and a full kitchen/break area.

LIMITED FUTURE CAPITAL REQUIREMENTS ASSOCIATED WITH TENANT ROLLOVER

The tenant’s decision to remain at the property provides investors with greater occupancy visibility and potentially reduces the near-term leasing, downtime and tenant-improvement exposure commonly associated with office investments approaching lease expiration.

THE INVESTMENT THESIS

Long-Term Corporate Commitment in a Highly Differentiated Location

The decision by Konica Minolta to extend its occupancy represents an important validation of both the premises and the Hudson Harbor location.

In an office market where investors increasingly differentiate assets based upon tenant quality, occupancy durability, transit accessibility and overall workplace environment, 127 West Main Street possesses characteristics that are difficult to replicate.

The investment combines a recognized corporate tenant with a distinctive waterfront setting, excellent regional transportation infrastructure, reserved parking and immediate Metro-North access.

For investors seeking stabilized office investments, the offering represents an opportunity to acquire income rather than vacancy, tenancy rather than lease-up exposure, and a differentiated location rather than commodity suburban office product.

TENANT & LEASE

Tenant: Konica Minolta Business Solutions U.S.A., Inc.
Premises: Unit SHCB, Hudson Harbor I
Demised Area: Approximately 7,000 Usable SF
Occupancy: 100%
Permitted Use: General and Administrative Offices
Parking: 22 Reserved Spaces
Current Lease Expiration: July 31, 2027
Renewal: One Five-Year Option
Renewal Structure: 95% of Fair Market Value with 2% annual increases
Tenant Status: Tenant has notified ownership of its intention to exercise the renewal option

HUDSON HARBOR

A PREMIER WESTCHESTER WATERFRONT ENVIRONMENT

Hudson Harbor provides a setting fundamentally different from the traditional suburban office campus.

The master-planned waterfront community combines distinctive stone-and-timber architecture with residential development, restaurants, pedestrian areas, landscaped courtyards and immediate access to the Hudson River.

127 West Main Street is integrated directly into this environment, providing the tenant with a workplace that combines accessibility, walkability, architecture and lifestyle amenities.

The property’s positioning is further enhanced by the continued development and investment occurring along Tarrytown and Sleepy Hollow’s Hudson River waterfront, including the nearby Edge-on-Hudson master-planned development.

This evolving waterfront corridor continues to introduce new residences, amenities and economic activity to an already highly desirable section of Westchester County.

LOCATION ADVANTAGE

TARRYTOWN, WESTCHESTER COUNTY, NEW YORK

Few suburban office locations provide the combination of rail, highway and pedestrian connectivity available at 127 West Main Street.

The property is approximately 0.2 miles from the Tarrytown Metro-North Station, allowing employees and visitors to walk between the property and commuter rail service in approximately four minutes.

Metro-North’s Hudson Line provides direct access to Grand Central Terminal in approximately 40 minutes, creating an important connection between the property and Manhattan’s workforce and business community.

Vehicular accessibility is equally compelling, with immediate proximity to:

Interstate 287
Route 9
Governor Mario M. Cuomo Bridge
Saw Mill River Parkway
New York State Thruway

The combination creates a strategic midpoint between New York City, Westchester County, Rockland County, Fairfield County and Northern New Jersey.

A DIFFERENT KIND OF OFFICE INVESTMENT

127 West Main Street should not be viewed simply as another suburban office offering.

It represents the convergence of several increasingly important investment characteristics:

Credit Corporate Tenancy
Extended Tenant Commitment
100% Occupancy
Predictable Income
Transit-Oriented Location
Reserved Parking
Waterfront Setting
High-Quality Construction
Strong Regional Accessibility
Limited Comparable Supply

Together, these characteristics create a compelling opportunity to acquire a stabilized commercial asset within one of Westchester County’s most distinctive mixed-use environments.

127 WEST MAIN STREET

STABILIZED INCOME. CREDIT TENANCY. WATERFRONT LOCATION.