Bob Horvath and Todd Tremblay, vice presidents of investments, of Marcus & Millichap Real Estate Investment Services, have brokered the transaction of an HSBC Bank located in Stratford, and Aspen Dental located in Huber Heights, OH.
Located at 1350 Barnum Ave., one of the main retail corridors in Stratford, the HSBC sale included an existing ground lease. The property is located directly across from national tenants including CVS and AutoZone. The sale closed at a price of $1.05 million. Horvath and Tremblay represented both the seller, 1370 Barnum LLC and the buyer, VDM Companies, LLC.
Aspen Dental, located in Huber Heights, closed at a price of $1.335 million and a cap rate of 8.15%. The newly built 3,200 s/f property is located off of the signalized intersection of Old Troy Pike (SR 202) and I-70. There are 9 years remaining on the original 10 year lease with three, five year options. Aspen Dental is an outparcel to Northpark Center, a 318,000 s/f power center with national tenants including Elder Beerman, Kohl's, Dollar Tree, PetSmart, and Marshalls. Horvath and Tremblay exclusively represented the buyer, R&R Dayton, LLC.
With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 6,149 transactions in 2012, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry's most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally.