News:
Brokerage
Posted: October 28, 2016
Horvath & Tremblay sells five retail locations totaling $11.8 million
CVS - Millbury, MABoston, MA Horvath & Tremblay continues to deliver results with the sale of five East Coast properties eclipsing $11.8 million in total sales. Recent transactions include the sale of Citizens Bank, two CVS locations, a free-standing McDonald’s, and a KFC/Taco Bell.
Citizens Bank fully occupies the 4,721 s/f property located along Washington St, a main commuter thoroughfare traveling through the neighborhood of Dorchester. The property is positioned at the intersection of Washington St. and Aspinwall Rd. This is a proven bank branch location with a 20+ year operating history. Citizens Bank has shown commitment to this location by signing a five-year lease extension which includes two additional five-year options with annual rental escalations throughout the remaining term of the lease. Also included in the sale was a separate 20-car onsite parking lot.
Bob Horvath, Horvath & Tremblay
Todd Tremblay, Horvath & Tremblay
Bob Horvath and Todd Tremblay represented the seller and procured the buyer to close the property at a sale price of $1.22 million.
Horvath and Tremblay also represented the seller in the sale of CVS in Millbury, Mass. for $3.235 million and CVS in Providence, R.I. for $3.715 million.
Matt Nadler, Horvath & Tremblay
Brian Ahrens, Horvath & Tremblay
Matthew Nadler represented the seller of KFC/Taco Bell in northern New England while Brian Ahrens procured the buyer to complete the sale for $1.66 million. Ahrens also represented the 1031 exchange buyer in the sale of McDonald’s in Limerick, Penn. The property closed at a sale price of $1.97 million.
Horvath & Tremblay’s advisors specialize in the sale of single tenant net-lease assets and retail shopping centers.
MORE FROM Brokerage
Goldberg of Spire Investments purchases Beverly portfolio for $9.2m
Beverly, MA Jay Goldberg, president and owner of Spire Investments has completed the purchase of four multifamily buildings. The 33-unit purchase amounted to a sale price of $9.2 million or $278,788 per unit. The properties are all located in downtown and consist of one- and two-bedroom units.
Columns and Thought Leadership
End of the year retail thoughts - by Carol Todreas
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.