Stoughton, MA Horvath & Tremblay has delivered impressive results with the sale of five properties eclipsing $15.86 million in total sales. Recent transactions include the sale of Burger King in Stoughton, 7-Eleven in Salem, NH, Hamilton Mill Shopping Center in Buford, GA, Hooters in Lakeland, FL and CVS in Shepherdsville, KY.
Bob Horvath, Todd Tremblay, and Matthew Nadler of Horvath & Tremblay completed the sale of the ground lease to Burger King. Horvath & Tremblay procured the buyer to close the property at a sale price of $1.68 million, a 4.76% cap rate. Burger King signed a new 20-year triple net ground lease in 2015, with strong rental escalations of 10% every five years throughout the base term of the lease and at the beginning of each of the four, 5-year options. This Burger King location is operated by one of the largest franchises who operates over 450 units. The newly constructed property benefits from visibility and frontage on Washington St. and is located across the street from a Super Stop and Shop and down the street from additional retailers including: CVS, Walgreens, McDonald’s, Wendy’s, KFC/Taco Bell, Bank of America, Papa Gino’s, U-Haul, Subway and Dunkin’ Donuts. The property is positioned on a heavily traveled retail corridor and is surrounded by residential communities.
7-Eleven closed at a sale price of $1.132 million. Horvath and RJ Tuller procured the 1031 exchange buyer to complete his exchange. 7-Eleven fully occupies the 2,616 s/f building located on Cluff Crossing Rd., off of South Broadway. 7-Eleven has five years of remaining term left on the triple net lease with zero landlord responsibilities. The property is located adjacent to the Rockingham Mall.
Brian Ahrens and Peter Butler completed the sale of Hamilton Mill Shopping Center at a sale price of $3.084 million.
Ahrens, Horvath and Tremblay represented a 1031 exchange buyer in his acquisition of Hooters for $2.95 million and CVS for $7.014 million a 5.07% cap rate. Hooters has over ten years remaining on the base term of the triple net lease with two additional five year options and CVS fully occupies a newly constructed 12,000 s/f property and operates under a new corporate guaranteed, 25-year triple net lease with five year options.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.
