Horvath & Tremblay sells three retail properties in New England For $11,288,032

North Reading, MA Horvath & Tremblay has completed the sale of three retail properties in New England for a total of $11,288,032.

Bob Horvath, Todd Tremblay, Jack Laurendeau and Ryan O’Rourke of Horvath & Tremblay have completed the sale of a Walgreens in North Reading. Horvath & Tremblay exclusively represented the seller and sourced the buyer to complete the transaction at a sale price of $5.6 million. Walgreens is located at 158 Main St. Walgreens has occupied this property since it was constructed in 2008 and they have 7+ years remaining on an absolute triple-net lease with 50, one-year renewal options. The property is situated on a highly visible corner parcel at the signalized intersection of Main St. (MA Rte. 28) and MA Rte. 62, two of the area’s primary commercial and commuter corridors. The property is 0.7-miles from the Stop & Shop anchored Atlantic Plaza and 0.7-miles from the Walmart anchored North Reading Plaza. Additionally, Walgreens is 1.6-miles from MA Rte. 125 and two-miles from I-93. The North Reading Middle and High Schools are also just two-miles from the property.

O’Rourke of Horvath & Tremblay has facilitated the sale of a Chipotle in Westfield, Mass. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1.975 million. Chipotle is located at 465 Main St. Chipotle has 11+ years remaining on its Double Net (NN) Lease with seven, five-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 newer construction Chipotle is a pad site to a Big Y anchored shopping center and is well-located along Main St. (US Rte. 20), 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 Westfield and the area’s residential neighborhoods providing a built-in customer base. 

Laurendeau of Horvath & Tremblay completed the sale of a CVS in Concord, N.H. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,713,032. CVS is located at 4 Hall St. CVS has been at this location since it was constructed in 2008. CVS has 7+ years remaining on their Absolute NNN Ground Lease with four, 5-year renewal options. The lease calls for an attractive 6% increase in 2028 and increases at the start of each renewal option. The property enjoys a dominant location along both Hall St. and Water St. (US Rte. 3) with outstanding frontage, visibility and access from both roadways. CVS is situated adjacent to I-93, with quick and convenient access to the Exit 13 on/off ramps. The property is close to national and local retailers and restaurants, several car dealerships, and industrial facilities that drive traffic to the immediate area. Additionally, the Property is surrounded by dense residential neighborhoods, several ho-tels, area schools, and the UNH School of Professional Studies that provide a robust consumer base.