Lynnfield, MA Horvath & Tremblay has completed the sale of four retail properties in New England for a total of $13.593 millioin.
Bob Horvath, Todd Tremblay, and Brian Ahrens of Horvath & Tremblay completed the sale of the Saco Crossing Retail Plaza in North Conway, N.H. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the $4 million sale. Saco Crossing Retail Plaza is located on Rte. 16, in the commercial center of the city’s shopping district. The retail plaza contains 16,794 s/f of gross leasable area and is 100% leased to six tenants.
Horvath, Tremblay, Matt Nadler and Chris King of Horvath & Tremblay have completed the sale of a Dollar Tree in Springfield, Mass. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the $2.223 million sale. Dollar Tree is located at 375 Allen St. Dollar Tree has occupied this building since its construction in 2016 has over five years of term remaining on their double-net lease and is followed by two, five-year renewal options. The lease features rental increases of $1.00 per s/f at the beginning of each renewal option. Dollar Tree is situated on a corner parcel at the signalized intersection of Allen St. and Island Pond Rd.
Horvath and Tremblay also facilitated the sale of Omnicare in Coventry, R.I. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the $4.1 million sale. Omnicare is located at 30 Centre of New England Blvd. Omnicare, a CVS Health Company, is an industry leading provider of pharmacy services to senior living, assisted living and skilled nursing facilities. The free standing, 21,600 s/f building was constructed in 1998. The tenant has over 6.5 years remaining on their double net lease with two five-year renewal options. CVS Health Corp. acquired Omnicare, Inc. in 2015 for $12.9 billion. Omnicare has occupied the property since it was completed in 1998 and most recently signed a seven-year renewal in 2021, demonstrating their commitment to the site and the market. This is a well-established site for Omnicare as they have occupied the property for over 23 years. The property is located off I-95, at the corner of Hopkins Hill Rd. and Centre of New England Blvd., at the entrance to the mixed-use, “Centre of New England,” one of the largest commercial developments in the state.
Nadler completed the sale of KFC & Taco Bell in Presque Isle, ME. Horvath & Tremblay exclusively represented the buyer to complete the $3.27 million sale. KFC & Taco Bell is located at 808 Main St. This is a rare dual branded concept, featuring a brand new, 20-year, absolute NNN lease with two five-year renewal options. The property consists of a 3,369 s/f building, constructed in 1987 and remodeled in 2013, on a large 1.71-acre parcel. The lease calls for 7% rent increases every five years through the base term and the option periods. The KFC & Taco Bell lease is guaranteed by KBP Foods, one of the largest KFC Franchisees in the U.S. that operates over 750 locations in 30 states. The property is located at the signalized intersection of Main St. and Maysville St., which sees over 23,000 vehicles pass by per day.