Norwood, MA Horvath & Tremblay continues to deliver impress results with the sale of four properties eclipsing $8.14 million in total sales. Recent transactions include the sale of the two leasehold interests of TD Bank in Norwood, MA and TD Bank in East Islip, NY, Applebee’s in Greensburg, PA, and Newk’s Eatery in Mobile, AL.
Bob Horvath, Todd Tremblay and Peter Butler of Horvath & Tremblay, completed the sale of the leasehold interest of TD Bank located in Norwood. The lease-hold interest has over 18 years of remaining base term and (4) five-year options. TD Bank signed the original 20-year ground lease in November 2012 which includes (4) five-year options with rental escalations scheduled to occur every five years throughout the base term and the options. The new 2,550 s/f construction will be fully leased to TD Bank with positioning at the signalized corner of Nahatan St. and Lennox St. on a 0.68-acre parcel. This TD Bank branch will offer customers the convenience of a double drive-thru and a drive-up ATM. The property is located adjacent to a free standing Dunkin Donuts and across the street from Norwood Plaza, a 106,117 s/f shopping center anchored by Shaw’s, CVS, and TJ Maxx. Horvath & Tremblay exclusively represented the seller and procured the buyer to close the property at a sale price of $1.906 million. The sale of the leasehold interest of TD Bank in East Islip, NY closed at a sale price of $1.543 million.
Adding to Horvath & Tremblay’s recent transactions are the sale of Applebee’s in Greensburg, PA and Newk’s Eatery in Mobile, AL. Brockwell, Horvath and Tremblay represented the seller of Applebee’s located at the Westmoreland Mall, closing the sale for $2.116 million, a 6.25% cap rate. The broker of record for the transaction was DZ Net Lease, LLC. Representing the buyer of a newly constructed Newk’s Eatery in Mobile, AL, were Brian Ahrens, Horvath and Tremblay, who closed the property at a sale price of $2.579 million, a 6.8% cap rate. Newk’s Eatery operates under a new 10-year corporate guaranteed lease with (3) five-year options.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.
.png)