2 S Portage St, Westfield, NY 14787

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Building Details:

• Year Built: 1910

2 S Portage St is located in Westfield, NY.

Chautauqua County credit tenant net lease opportunity now available for sale. 48,000sf, four-story building, plus partial basement, on a lot measuring approximately 14.5 acres. Parking for 105 cars with room for expansion. Tenant is Welch Foods, Inc. (S&P rating: A-). Original 15 year lease term thru 10/31/2020. Currently $87,241 per year + CPI annually + 100 percent of operating costs. Welch's is the processing and marketing affiliated Cooperative of the National Grape Cooperative Association, Inc., whose 1,333 members supply Concord and Niagara grapes from vineyards in New York, Ontario, Canada, Ohio, Michigan and Washington. The subject property is still the headquarters for the National Grape Cooperative Association and this location issues the certificates to member grape growers for grapes delivered to their nearby plant. 45% of the total grapes processed nationwide are received and processed in Westfield. Administrative functions supporting the National Grape Cooperative Board are also located in the subject property.