News:
Owners Developers & Managers
Posted: February 19, 2021
Horvath & Tremblay sells four retail properties in Mass. for $7.679 million
Boston, MA Horvath & Tremblay has completed the sale of four retail properties in Massachusetts for $7.679 million.
Robert Horvath and Todd Tremblay of Horvath & Tremblay have successfully transacted on a Citizens Bank in the city. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $3.075 million, a 4.99% Cap Rate. Citizens Bank is a brand-new single-tenant retail condominium situated at street level of The Carillon Building, a nine-story 32-unit luxury residential condominium building, located at 183 Mass. Ave. in the Back Bay. Citizens Bank executed a new 10-year triple net lease with two, five-year renewal options.
Joe Desalvo, Horvath, and Tremblay have completed the sale of CVS Pharmacy in Worcester. Horvath & Tremblay exclusively represented the seller in this transaction at a sale price of $1.08 million. CVS Pharmacy is located at 256 Lincoln St. The stand-alone brick building was constructed in 1965 and contains 5,646 s/f on a 0.19-acre corner lot.
Horvath and Tremblay also facilitated the sale of a United States Post Office (USPS) in North Truro. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1.438 million. The USPS occupies the entire building of a two-building retail condominium located at 1 Highland Rd. Constructed in 2010, The United States Post Office has operated at this location for 10 years, and their double net lease runs through May of 2030. The lease has two, 5-year renewal options, each with a scheduled rent increase.
Horvath & Tremblay’s Brian Ahrens has completed the sale of 7-Eleven in Franklin. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $2.086 million. 7-Eleven is located at 533 W Central St. The stand-alone building was constructed in 1999 for 7-Eleven and consists of 2,612 s/f on 0.76 acres of land. 7-Eleven has 6+ years remaining on their corporately backed, absolute NNN ground lease with three, 5-year options. The lease features 10% rent increases at the start of each of the option periods.
MORE FROM Owners Developers & Managers
Routine Properties acquires Bristol Business Park at 383 Middle St. - 406,665 s/f industrial campus
Bristol, CT Routine Properties, a boutique real estate development and investment firm specializing in industrial assets throughout the Northeast, has acquired the Bristol Business Park, a 406,665 s/f industrial campus located at 383 Middle St.
.png)
Quick Hits
Columns and Thought Leadership
Florida ruling raises bar for condo terminations and buyouts - by Michael Karsch
On October 14, 2025, in a landmark decision with significant implications for the Florida real estate market, the Supreme Court of Florida formally denied Two Roads Development’s (TRD Biscayne LLC) petition for review in its long-running case against unit owners of Biscayne 21,
Revitalized Town Centers: Retail??? - by Carol Todreas
It is now widely accepted that customers want to shop in person at physical stores. Brands know that they do better business in a physical store than just on line so they want to open stores. Demand for retail space by digital merchants, local entrepreneurs, and newly developed national chains
IREM president’s message: Our new reality - Staying ahead of supply chain delays - by Yoany Vargas
Supply chain delays are slowing construction, ratcheting up operating costs, and extending turnover timelines across Greater Boston, directly reducing revenue and increasing the workload for multifamily and
Retail infill strategy to activate Pawtucket’s Conant Thread District - by Gaetan Kashala
Until recently, the Conant Thread District consisted of approximately 150 acres of underutilized industrial land spanning Pawtucket and Central Falls. Today, the area is one of the most significant
 (1).png)