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News:
Owners Developers & Managers
Posted: September 25, 2015
Horvath and Tremblay of Marcus & Millichap handle $18.7 million sale of a Stop & Shop supermarket
Stop & Shop, 932 North Montello Street - Brockton, MABrockton, MA Bob Horvath and Todd Tremblay, vice presidents of investments at Marcus & Millichap Real Estate Investment Services, have brokered the sale of a Stop & Shop supermarket located at 932 North Montello St.
The sale closed at a price of $18,742,593. Horvath and Tremblay exclusively represented both the buyer, ARCP Acquisitions, LLC, as well as the seller, Brockton-Montello Plaza, LLC.
Bob Horvath,
Marcus & Millichap
Todd Tremblay,
Marcus & Millichap
Stop & Shop signed the original 20-year double net lease on May 23, 2002, which includes (10) five year options. There are scheduled rental escalations every (5) five years throughout the base term of the lease and option periods. This is a well-established site for Stop & Shop, as they have operated at this location for nearly 15 years. The property is situated on the heavily trafficked Rte. 28, one of the city’s main thoroughfares, which is traveled by over 24,000 vehicles per day. The property has four points of ingress and egress located along North Montello St. and Albion St. Included in the sale is an on-site Stop & Shop fuel station and a 4,000 s/f pad site for future development. This Stop & Shop location is the dominant grocer within densely populated trade radius with a population base of over 188,000 within a five mile radius. National retail tenants in the area include Dollar Tree, Walmart, McDonald’s, Domino’s, Advance Auto Parts, Walgreens, Papa Gino’s and KFC/Taco Bell.
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.
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