515 Stewart Drive W Syracuse, NY 13212

Listing agency SAB Capital

Listed by Zach Weiss · License #NY 10401237727

Source Crexi

Added: Apr 10 Updated: Jul 22 at 11:37PM Checked: Jul 22 at 11:37PM

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Investment Insights

Based on property information with market context.

The property is an industrial facility used for wholesale prescription drug distribution for Kinney Drugs. The site is secured by a double-net (NN) corporate-guaranteed lease with Kinney Drugs, Incorporated, with more than eight and a half years remaining. The base rent includes scheduled increases every five years, including option periods, with the next escalation referenced as occurring in 2022.

The facility is located in North Syracuse, New York on Stewart Drive, and it benefits from close proximity to Interstate 81 for distribution access and commuting.

The distribution program serves primary clients including the New York Correctional Facility and senior living facilities throughout upstate New York and Vermont. The facility currently employs 90 full-time employees who live primarily in Syracuse and its adjacent suburbs.

Key Highlights

• Kinney’s Drugstore wholesale distribution facility in North Syracuse, NY on Stewart Drive
• Double‑net (NN) corporate guaranteed lease with Kinney Drugs, Incorporated
• More than 8.5 years remaining on the lease term

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FAQs

What type of property is this?

Distribution center - Industrial wholesale distribution facility leased on a corporate NN structure to Kinney Drugs, Inc. under long-term terms.

Where is this distribution center located?

The property is located at 515 Stewart Drive W Syracuse, NY.

What are key features of this property?

This property features: Kinney’s Drugstore wholesale distribution facility in North Syracuse, NY on Stewart Drive; Double‑net (NN) corporate guaranteed lease with Kinney Drugs, Incorporated; More than 8.5 years remaining on the lease term