Westford, MA Horvath & Tremblay has completed the sale of three properties for a total of $11.825 million.
Bob Horvath, Todd Tremblay, and Brad Canova of Horvath & Tremblay have completed the sale of Westford Crossing in Westford, Mass. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $3.875 million. Westford Crossing is located at 137-145 Littleton Rd. The property is comprised of two single-tenant buildings leased to Stir Martini Bar & Kitchen and Become Fitness and is further improved by a cell tower that is leased to American Tower. Westford Crossing is also home to a free-standing Walgreens that is not part of the offering. Stir Martini Bar & Kitchen has a new 10-year lease that is anticipated to commence in the fourth quarter of 2023. Become Fitness has been at this location since 2019 and has 5+ years remaining on their lease. American Tower has utilized this location for more than 25 years and has two years remaining on their absolute NNN ground lease. All three tenants leases also feature annual rent increases. The property has a total of 12,980 s/f on 8.77 acres. Westford Crossing is well located along MA Rte. 110, the area’s primary commercial and commuter corridor. The property benefits from visibility and frontage and offers four points of access. The property is positioned at the intersection with Nixon Rd. and is surrounded by significant commercial clusters driving traffic to the area. Westford Crossing is also close to area schools and residential neighborhoods, providing an instant customer base for the tenants in the plaza. Westford Crossing offers access to I-495 and MA Rtes. 27 and 225 and is just minutes from MA Rte. 2 and US Rte. 3.
Canova has completed the sale of a Walgreens in Tewksbury, Mass. Horvath & Tremblay exclusively represented the buyer to complete this transaction at a sale price of $4.55 million. Walgreens is located at 2341 Main St. in Tewksbury, Mass. The property was constructed for Walgreens in 1999 and they have nine years remaining on an absolute triple-net lease with ten, five-year renewal options. The property is situated on a visible parcel at the intersection of South St. and Main St., the area’s primary commercial and commuter corridor. Walgreens is located in the southern end of town and is the primary retailer serving the area. The property is surrounded by populated residential neighborhoods that provide a built-in customer base. Walgreens benefits from excellent frontage and visibility and sees approximately 20,000 vehicles per day at the intersection of South and Main Sts. The property also has access to I-93, which is three miles away.
Aaron Huntley of Horvath & Tremblay has completed the sale of KinderCare in Norwell, Mass. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3.4 million. KinderCare is located at 380 Washington St. Constructed in 1998 the stand-alone building consists of 9,846 s/f on 1.43 acres. KinderCare has operated at this location for 11 years, and they extended their lease, demonstrating their commitment to the site and the market. KinderCare has nine years remaining on their lease with three, five year renewal options. KinderCare has an absolute NNN lease with a rent increase in 2028, and at the start of each renewal option.
The property is well positioned along Washington St., the area’s primary commercial corridor. The property is surrounded by national retailers and businesses that drive traffic to the area and is close to Norwell High School and MA Rte. 3, the south shore’s primary commuter highway. KinderCare is well positioned to meet the needs of the area residents and maintains a heavy enrollment.
