Bob Horvath and Todd Tremblay of Marcus & Millichap Real Estate Investment Services, one of the nation's largest real estate investment services firms, have successfully brokered the transaction of a Farmington Bank ground lease. The 2,250 s/f single tenant property is located at 486 Silas Deane Hwy. The property was built in 2006 and remodeled in 2011, when Farmington Bank moved into the location. Farmington Bank signed a twenty year lease with 2 five year options. The sales price of $1.125 million represents a 6% cap rate and a price per s/f of $500.
Horvath and Tremblay represented the seller, Livingston Realty I LLC and procured the buyer, Farmington Bank.