Horvath & Tremblay sells three retail properties in New England for $4.166 million

Middletown, CT Horvath & Tremblay has completed the sale of three retail properties in New England for a total of $4.166 million.

Bob Horvath, Todd Tremblay, Matt Nadler and Jack Laurendeau of Horvath & Tremblay have completed the sale of Venu Flower Collective in Middletown. Horvath & Tremblay exclusively represented the seller and sourced the buyer to complete the transaction at a sale price of $1.95 million. Venu Flower Collective is located at 895 Washington St. Venu Flower Collective signed a brand-new, 10-year lease in 2023, and the current lease term expires in March 2033, followed by one, 5-year renewal option. The lease features 3% annual rent increases throughout the remaining lease term and option period. Venu Flower Collective is located on Washington St., the area’s primary retail corridor. Situated on an outparcel to a Home Depot and Market 32 (Price Chopper) anchored shopping center, the property has frontage and visibility and is surrounded by national retailers and restaurants that drive traffic to the area. Venu Flower Collective is just over a mile from Wesleyan University, one of the most prestigious liberal arts colleges in the country and a significant economic driver for the town and the surrounding area, and 1.75-miles from downtown. The property is also convenient to I-91 and 691 and CT Rtes. 9 and 17.

Horvath, Tremblay, Jason Woods and Rob DiFranco of Horvath & Tremblay have facilitated the sale of Wendy’s in Milford, NH. Horvath & Tremblay represented the seller and sourced the buyer to complete the transaction at a sale price of $1.295 million. Wendy’s is located at 153 Elm St. Wendy’s occupies a 3,033 s/f building positioned on a one-acre parcel and has 15+ years remaining on their absolute NNN lease. The lease calls for 1% annual increases in rent throughout the primary lease term. Wendy’s is situated along Elm St. (NH Rte. 101A), the area’s primary commercial and commuter corridor. The property has visibility and frontage and is surrounded by national retailers and restaurants that drive traffic to the area. Additionally, the property is close to area schools and residential neighborhoods that provide a built-in customer base and is one mile from downtown, two miles from NH Rte. 101, 13 miles from Nashua, and 15 miles from Manchester.

Horvath and Tremblay also completed the sale of a Domino’s in Belchertown, Mass. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $921,000. Domino’s is located at 33 Main St. Domino’s has been at this location since 2022 and has 7+ years remaining on their double net lease followed by four (4), 5-year renewal option. The lease features 2% annual rent increases throughout the remaining lease term and option periods. The location is operated by a 15-unit franchisee and has a personal guaranty from the owner. Domino’s has frontage and visibility along Main St. (US Rte. 202), the area’s primary commercial and commuter corridor. The property is close to national retailers (Stop & Shop, Tractor Supply Company, CVS, Ace Hardware and Family Dollar) and restaurants (McDonald’s, Subway and Starbucks) which drive traffic to the area. Domino’s is accessible from the area’s residential neighborhoods and is 1.5 miles from Belchertown’s elementary, middle and high schools. Belchertown is in central Massachusetts 18 miles northeast of downtown Springfield.