Horvath & Tremblay sells Pilgrim Hill Marketplace in Plymouth, MA for $8.6 million

Plymouth, MA Bob Horvath, Todd Tremblay and Aaron Huntley of Horvath & Tremblay have completed the sale of Pilgrim Hill Marketplace. Horvath & Tremblay exclusively represented the seller and sourced the buyer to complete the transaction at a sale price of $8,600,000. 

Pilgrim Hill Marketplace is located at 2-8 Pilgrim Hill Rd. Pilgrim Hill Marketplace is a 19,611 s/f retail plaza on a 2.15-acre corner parcel that is 100% leased to a complimentary mix of tenants. The center is anchored by CVS and the remainder of the space is leased to O’Reilly Auto Parts and Family Pizza. Each of the tenants have net leases and scheduled increases in either the primary lease term or renewal options, protecting the in-place cash flow against inflation and rising costs of service and labor. CVS has been at this location since 1998 and just extended their lease by five years and added an additional renewal option. CVS has 8+ years remaining on their corporate lease with three (3), 5-year renewal options. Family Pizza has 10+ years remaining on their lease and O’Reilly Auto Parts signed a new 15-year lease with four (4), 5-year renewal options. Pilgrim Hill Marketplace benefits from outstanding visibility, frontage and signage at the signalized intersection of Pilgrim Hill Road and Samoset Street in the center of a dominant trade area that is home to countless national retailers, office buildings and several industrial parks. The Property is 0.4 miles from Exit 15 on Route 3, the primary commuter highway connecting Boston with the South Shore and Cape Cod. Pilgrim Hill Marketplace is convenient to Downtown Plymouth (1.25-miles) and is surrounded by residential neighborhoods and large apartment communities that provide a built-in customer base. Plymouth is a burgeoning town of 60,000 residents on the South Shore of Massachusetts, approximately 40 miles south of Boston.