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Brokerage
Posted: April 27, 2018
Horvath & Tremblay sells seven retail properties totaling $29.8 million
Retail center - Biddeford, ME
Hyannis, MA Horvath & Tremblay delivers results with the sale of seven retail properties totaling $29,813,516. Recent transactions include the sale of two Citizens Banks, Walgreens, Pizza Hut, Ruby Tuesdays, Family Dollar and a Retail Center anchored by Five Guys & Mattress Firm.
Bob Horvath and Todd Tremblay have completed the sale of Citizens Bank located at the “Airport Rotary” in Hyannis, Mass. The newly constructed Citizens Bank has an initial 15-year lease term plus (3) five-year option periods. Horvath and Tremblay exclusively represented the seller and procured the buyer to close the property for a sale price of $3.375 million. Horvath, Peter Butler, and Tremblay also sold the Citizens Bank located in Smithfield, R.I. The newly constructed Citizens Bank was a relocation from across the street. The initial lease terms were for 15 years, with (3) five-year options. The property sold for $4.2 million.
Horvath and Tremblay sold a Family Dollar in Providence, R.I. for $1.643 million. The newly built property has an initial 10-year team plus (2) five-year options with 12.5% increases every 5 years in the base term and options.
Horvath, Butler, and Tremblay sold a newly constructed Walgreens located in Ewing, N.J. The initial term was for 20 years with (50) one-year options. The pharmacy location, in front of a ShopRite grocery store, is set on a highly visible, highly trafficked, signaled intersection, along a busy retail corridor that serves Ewing Township and its 36,000 residents. The property sold for $10,655,516.
Horvath, Tremblay, and Jeremy Black recently sold a Pizza Hut in Kingston, N.Y. for $675,000. The Pizza Hut had 6.5 years remaining of term with (1) five-year option.
Tremblay and Brad Canova represented the buyer in the acquisition of newly constructed retail center located in Biddeford, ME. The retail center included a Mattress Firm, Five Guys, Game Stop, Sports Clips, Firehouse Subs, US Cellular, and Dunkin Donuts. The property closed at a sale price of $6.675 million.
RJ Tuller, Horvath and Tremblay sold a Ruby Tuesdays in Jacksonville, Fla. for $2.59 million.
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