Bob Horvath and Todd Tremblay of Marcus & Millichap Real Estate Investment Services have brokered the transaction of a TD Bank ground lease. The 3,834 s/f single tenant property is located at 516 Adams St. The property is under construction and scheduled for completion later this year. The TD Bank will have a 20 year lease with (4) Five Year options. The sales price of $4,256,551 represents $1,110 per s/f.
Horvath and Tremblay represented the seller, Naked Real Estate LLC and procured the buyer, John Basile & Co. Inc.
Marcus & Millichap Real Estate Investment Services is one of the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 3,756 transactions in 2008, 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, technology and relationships.