Bob Horvath and Todd Tremblay, vice presidents of investments of Marcus & Millichap Real Estate Investment Services, brokered the $1.345 million sale of the NAPA Auto Parts.
NAPA Auto Parts is located on Roosevelt Trail (Hwy. 302), the main retail corridor of town. NAPA Auto Parts was delivered with a new 10.5 year absolute NNN lease with (4) five year options and 7.5% rental increases every five-years throughout the base term and option periods. This is a well-established location for NAPA having occupied the site since 1996. The 7,930 s/f property is located across the street from Home Depot, Windham Mall and North Windham Shopping Center. Additional retailers in the immediate area include a Lowe's, Walmart Supercenter, Big Lots, Sears, Staples, Marshalls, Applebee's, O'Reilly Auto Parts, Burger King, Pizza Hut, Rent-A-Center, CVS, Bank of America, Key Bank, Walgreens, and Staples. The sale closed at a cap-rate of 6.25%. Horvath and Tremblay represented the buyer, Roosevelt Trail, LLC.
With over 1,300 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 6,600 transactions in 2013 with a value of approximately $24 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry's most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.