Horvath & Tremblay sells three retail properties in New England for $13.58 million

Leominster, MA Bob Horvath and Todd Tremblay of Horvath & Tremblay have completed the sale of a Starbucks, UPS Store and IC Credit union in Leominster. Horvath & Tremblay exclusively represented the seller and secured the buyer to complete the transaction at a sale price of $5.18 million. The retail center is located at 10-16 Jungle Rd. The newly constructed, three-tenant plaza is improved with Starbucks, UPS, and IC Credit Union and contains 6,823 s/f on a 1.41-acre parcel. Starbucks has a new 10-year lease with four, 5-year renewal options, UPS has a 10-year lease with two, 5-year renewal options, and IC Credit Union signed a 20-year lease with four, 5-year renewal options. All three leases call for rent increases throughout the primary lease terms and at the start of each of the renewal option periods. The plaza is positioned within an established commercial area and is shadow anchored by a nearby Walmart Supercenter and is surrounded by national and regional retailers and service-oriented businesses that drive traffic to the area. The property features visibility and is off I-190, providing access to MA Rte. 2 and connectivity throughout Central Massachusetts and to the Greater Boston market. The site is also convenient to nearby residential neighborhoods, multifamily housing, and area schools, providing a built-in customer base. 

Zach Smith of Horvath & Tremblay has completed the sale of a CVS in Holbrook, Mass. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $5.9 million. CVS is located at 842 S Franklin St. CVS has been at this location since 2005 and recently extended their lease for 10 years, demonstrating their commitment to the site and market. CVS has 10+ years remaining on their Triple Net Lease with one, 10-year renewal option. The lease calls for a 4% increase every five years throughout the base term and renewal option. CVS is positioned at the signalized intersection of South St. and S Franklin St. (MA Rte. 37), one of the area’s primary commercial and commuter corridors. The property is surrounded by residential neighborhoods and area schools that provide a built-in customer base and offers convenient access to Downtown Brockton, two train stations, and MA Rte.s 24 and 139, providing efficient connectivity throughout the area.

Matt Nadler, Bob Horvath and Jack Laurendeau of Horvath & Tremblay have completed the sale of a Wendy’s in Claremont, N.H. Horvath & Tremblay exclusively represented the seller and sourced the buyer to complete the transaction at a sale price of $2.5 million. Wendy’s is located at 384 Washington St. Wendy’s has 19+ years remaining on its Absolute NNN Ground Lease with four, 5-year renewal options. The lease features attractive 10% rent increases every five years throughout the primary lease and at the start of each renewal option. The new construction Wendy’s is well-located along Washington St. (NH Rte. 103), the area’s primary commercial and commuter corridor. The property is positioned in the heart of a large commercial cluster and is surrounded by retailers and restaurants that drive traffic to the area. The property is also convenient to downtown Claremont and the area’s residential neighborhoods providing a built-in customer base. The property is positioned along NH Rte. 103 and offers convenient access to state roads and interstates, area schools, Valley Regional Hospital, Claremont Motorsports Park and River Valley Community College.