Horvath & Tremblay sells three retail properties in Connecticut for $7,252,529

Shelton, CT Horvath & Tremblay has completed the sale of three retail properties in Connecticut for a total of $7,252,529.

Bob Horvath, Todd Tremblay and Matt Nadler of Horvath & Tremblay have completed the sale of The Goddard School. Horvath & Tremblay exclusively represented the seller and brought the buyer to complete the transaction at a sale price of $4,326,529. The Goddard School is located at 749 Bridgeport Ave. The Goddard School is a pad site within Fountain Square, a new construction shopping center that consists of a 91,288 s/f shopping center positioned on 15.85-acres of land. The new construction Goddard School has 18+ years remaining on their lease with three, five-year renewal options. The lease calls for rent increases every five years throughout the primary lease term with rent set to fair market at the start of each renewal option. The newly constructed facility includes a modern design and an extensive outdoor area with multiple play areas corresponding to classrooms. The Goddard School is well located at the center of a busy retail, medical and corporate office corridor along Bridgeport Ave. between Rte. 8 and the Trapp Falls Reservoir in Fairfield County. The destination trade area serves the surrounding towns of Seymour, Ansonia, Derby, Monroe, and Trumbull, as well as travelers on CT Rte. 8, a primary commuter highway serving over 66,000 vehicles per day. Fountain Square is surrounded by high-end office buildings with a captive employment base, national retailers and restaurants, and luxury apartment communities that drive traffic to the immediate area.

Jack Laurendeau, Bob Horvath and Todd Tremblay of Horvath & Tremblay has also completed the sale of Popeyes in Naugatuck, Connecticut. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $1.746 million. Popeyes is located at 111 Rubber Ave. in Naugatuck, Conn. The property consists of a 1,777 s/f building with a drive thru on a 0.47-acre parcel of land. Popeyes, operated by the Parikh Network, which owns and operates more than 125 Popeyes locations, has been at the property since its construction in 2022 and executed a 15-year Absolute NNN Ground Lease with two, five-year renewal options. The lease calls for attractive 10% rent increases every five years throughout the primary lease term and at the start of each renewal option period. Popeyes is positioned at the signalized intersection of Rubber Ave. and Meadow St. in the heart of Naugatuck. The property is surrounded by residential neighborhoods, apartment communities, and area schools that provide a built-in customer base and is convenient to national and local retailers that drive traffic to the area. Additionally, Popeyes is 0.5 miles from CT Rte. 8, the area’s primary commuter corridor connecting the area with Fairfield County to the south and Waterbury and I-84 to the north. 

Ryan O’Rourke of Horvath & Tremblay has completed the sale of an Advance Auto Parts in Bridgeport, Conn. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1.18 million. Advance Auto Parts is located at 1882 Main St. in Bridgeport, Conn. Advance Auto Parts has been at this location since 2012, and recently extended their lease (early), demonstrating their commitment to the site and market. Advance Auto Parts has 9+ years remaining on their NNN Lease with two, five-year renewal options. The property is strategically located at the signalized intersection of Grand St. and Main S., one of the area’s primary commercial and commuter corridors in the heart of a densely populated neighborhood providing a built-in customer base. Advance Auto Parts is convenient to national and local retailers and restaurants, industrial corridors, and Bridgeport’s Central Business District, driving traffic to the area. The property also offers access to CT Rte. 8, US Rte. 1, and I-95, providing regional connectivity throughout Fairfield County.