by Gary Higgins | via Boston Business Journal
Rent will increase at 1.75% for the first 10 years and at between 1.75% and 2.50% over the remainder of the lease.
Wynn said it will retain its 13-acre developable land portfolio on the east side of Broadway in Everett, where it plans to build an expansion with covered parking and non-gaming amenities. Wynn has an option to sell the related land and real estate assets of those 13 acres to Realty Income for up to $20 million of additional rent for up to six years following the closing of the transaction, it said in a release.
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