Horvath & Tremblay complete ten sales totaling $25.864 million

March 02, 2018 - Front Section
Citizens Bank - Concord, NH

Concord, NH Horvath & Tremblay completed the sale of ten properties for total sales of $25.864 million. Recent transactions include the sale of Citizens Bank and Granite State Pharmacy, Oxford Commons, Stop & Shop Gas and pad sites, Pizza Hut, Publix Supermarket, CVS, KFC, AutoZone, SunTrust Bank, and the Post Road Medical Offices.

Bob Horvath and Aaron Huntley of Horvath & Tremblay completed the sale of Citizens Bank and Granite State Pharmacy in Concord, NH. Horvath & Tremblay exclusively represented the seller and procured the buyer to close the property for a sale price of $1.65 million. Citizens Bank and Granite State Pharmacy occupy two, free-standing, buildings on a .85 acre parcel located at the corner of South St. and Clinton St. in downtown. Citizens Bank occupies a 2,609 s/f building under a triple-net lease with over 10-years of lease term remaining. This is a well-established bank branch location. Citizens and its predecessor bank have been operating continuously at this location since the mid-1970’s. Granite State Pharmacy occupies an adjacent 2,385 s/f building operating under a ten-year lease with more than 5 years of term remaining. In addition to operating as a pharmacy, Granite State Pharmacy is an approved postal provider by the U.S. Postal Service.

Bob Horvath, Horvath & Tremblay

 

Todd Tremblay, Horvath & Tremblay

 

Oxford Commons in Tallahassee, Fla. closed at a sale price of $3.845 million, a 6.15% cap rate. Brain Ahrens and Mark Brockwell represented the 1031 exchange buyer who acquired the property. Oxford Commons is a newly constructed, multi-tenant retail center located along Thomasville Rd. Ahrens, along with Horvath and Todd Tremblay represented a separate 1031 exchange buyer in his acquisition of a free-standing Pizza Hut in Newport, Tenn. which closed at a sale price of $784,000.

Horvath and Matthew Nadler represented the buyer of three Wallingford, Conn. pad sites tenanted by Ninety Nine Restaurant, Stop & Shop Gas and Monro Muffler Brake & Service. The properties are situated on a combined 2.91 acre lot in front of a Stop & Shop anchored retail center. The properties closed at a sale price of $3.135 million. Nadler also represented the seller and procured the buyer for KFC in Erie, Penn. which closed at a sale price of $750,000.

Kyle Danielson exclusively represented the seller and procured the buyer of Publix Supermarket and retail center in Gainesville, GA to close the property at a sale price of $3.225 million. Danielson also joined Horvath and Tremblay to represent the buyer of SunTrust Bank in Fuquay Varina, N.C. The property closed at a sale price of $1.205 million, a 5.47% cap rate.

AutoZone in Zebulon, N.C. closed at a sale price of $1.545 million. Horvath and Tremblay exclusively represented the seller and procured the buyer. Horvath and Tremblay also exclusively represented the seller and procured the buyer of the medical office building located at 5750 Post Rd. in East Greenwich, R.I. at a sale price of $5.6 million. 

The sale of CVS in Coconut Creek, Fla. closed at a sale price of $5.125 million. Jeremy Black represented the seller in the transaction. 

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.

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