Savers and Watawa Japanese Cuisine

Forged Real Estate is pleased to present the exclusive opportunity to acquire the fee simple interest in a two-tenant retail property leased to Savers and Watawa Japanese Cuisine (the “Property”), located in Bethpage, New York—a highly desirable Long Island suburb within the New York City MSA, the largest metro area in the U.S. with a population of approximately 19.5 million (Census Reporter). The property is anchored by Savers, a publicly traded company on the NYSE and the largest for-profit thrift store operator in the U.S. and Canada, with over 350 stores. Savers recently entered into a brand-new 10-year lease that includes 12% rental increases every 5 years, continuing through the option periods. Savers is being provided a new roof overlay with a 10 year warranty as well as new HVAC units. Having been at this location for over 12 years, Watawa Japanese Cuisine is a well known local, popular restaurant offering a modern twist on traditional Japanese fare. With annual rent increases of 3% and just over three years remaining on the lease, the buyer will be in a strong position to renegotiate terms with the tenant. The Savers-anchored property is undergoing a comprehensive retrofit, including a brand-new storefront and parapet, roof overlay under warranty, new HVAC system, and a fully renovated parking lot. Strategically located on Hicksville Road (21,300 VPD), the property enjoys excellent visibility and strong vehicular access. It also benefits from proximity—just half a mile—to Exit 7E/W of the Seaford-Oyster Bay Expressway (NY-135), a major north south route with 93,400 VPD, enhancing its regional accessibility. Bethpage is further connected through key transportation infrastructure, including the Long Island Expressway and Long Island Rail Road, making it a convenient and attractive location for commuters and retailers alike. The densely populated and highly desirable Long Island market presents significant challenges when it comes to securing approvals for new construction. The surrounding area is both densely populated and affluent. Within a 3-mile radius, the population is approximately 171,000 across 57,000 households, while the 5-mile radius encompasses 429,000 residents and 139,000 households. Income levels in the area are notably high, with average household incomes of $178,000 within 1 mile, $181,000 within 3 miles, and $188,000 within 5 miles. The property is situated in a thriving retail corridor, home to many top-performing national tenants. According to Placer.ai, nearby Nassau Mall ranks in the 99th percentile of U.S. community shopping centers. Other leading retailers in the immediate area—including Kohl’s, BJ’s Wholesale Club, and Target—all rank in at least the 90th percentile of their respective national chains, underscoring the strength and consumer draw of this market. The property sits within 3 miles of Bethpage Black, a nationally recognized Long Island golf course and the host of the 2025 Ryder Cup golf tournament. Savers continues to demonstrate strong operational performance. As of Q1 2025, the company reported a 4.5% increase in net sales, reaching $370.1 million. U.S. net sales rose 9.4%, while comparable store sales increased 4.2%, signaling consistent consumer demand for affordable and sustainable retail options.