Horvath & Tremblay sells four retail properties in New England for $12.88 million

April 29, 2022 - Retail

Rochester, NH Horvath & Tremblay has completed the sale of four retail properties in New England for a total of $12.88 million.

Bob Horvath, Todd Tremblay and Hobart Hare of Horvath & Tremblay completed the sale of Irving Gas and Convenience Store in Rochester, N.H. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $7.22 million. The Irving Gas & Convenience Store is located at 717 Columbus Ave. The property consists of a 1.76-acre lot leased to Irving Oil for a 20-year term with four, five-year renewal options. The corporate lease provides for a 10% rent increase every five years throughout the base term and at the start of each renewal term. The property is located ½-mile from the interchange with the Spalding Highway (NH Rte. 16), and 1.5-miles from US Rte. 202.

Aaron Huntley, Horvath and Tremblay completed the sale of Dunkin’ in Derry, N.H. Horvath & Tremblay exclusively represented the seller in this transaction, and procured the buyer at a sale price of $2.4 million. Dunkin’ is located at 2 Ashleigh Dr. Dunkin’ has been at this location since it was constructed in 1996 (25+ years) and has 3+ years remaining on their absolute NNN lease with three, five-year renewal options remaining. The property is located at the signalized intersection of Ashleigh Dr. and Manchester Rd. (NH Rte. 28), the area’s primary retail and commuter corridor. The property benefits from good visibility and frontage from both roadways, ample parking, a drive-thru, and is surrounded by national retailers, including the area’s primary grocery stores. The property also offers convenient access to exits 4 and 5 off of I-93.

Rob DiFranco, Tremblay and Horvath completed the sale of the Plymouth Dental Group (Condominium Interest) in Plymouth, Mass. Horvath & Tremblay exclusively represented the seller in this transaction and procured the buyer at a sale price of $900,000. Plymouth Dental Group is located at One Scobee Circle (unit 2A). Plymouth Dental Group (backed by Beacon Dental Health Management) has been at this location since 2019 and has 3+ years of term remaining, plus three, five-year renewal options. The asset, unit 2A, is a 3,480 s/f medical office suite located in a medical office building constructed in 2009. The entire building has a gross leasable area of 20,000 s/f and sits on a 1.45-acre parcel inside the Plymouth Industrial Park. One Scobee Circle is located in the Plymouth Industrial Park which boasts over 2 million s/f of office and industrial space and over 4,000 employees and is across the street from Colony Place, a 900,000 s/f retail lifestyle center. The property is located near Long Pond Rd. retail corridor.

Hare, Horvath, and Tremblay of Horvath & Tremblay completed the sale of Dollar General in Bolton, Conn. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $2.36 million. Dollar General is located at 1100 Boston Tpke. (US Rte. 44). This is a new construction Dollar General that will be completed in 2022. The property consists of a 10,542 s/f stand-alone building on a 1.13-acre parcel of land. Dollar General has a new 15-year corporate guaranteed absolute net lease followed by three, five-year renewal options. The lease calls for a 10% increase at the start of each renewal option. Dollar General is strategically located on Boston Tpke. (U.S. Rte. 44), the main thoroughfare traversing town. Dollar General will be the primary shopping destination for the surrounding area, as the closest national grocer is approximately 6-miles away. The property sits 0.25-miles from Bolton Lake, a popular destination for area residents and tourists, and boating enthusiasts. In addition, UCONN’s main campus is seven miles east of the property in Storrs, Conn.

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