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Brokerage
Posted: September 24, 2021
Horvath & Tremblay sells three retail properties in New England for $5.1 million
Lisbon, NH Horvath & Tremblay has completed the sale of three retail properties in New England for a total of $5,186,429.
Joe Desalvo, Bob Horvath, and Matt Nadler of Horvath & Tremblay completed the sale of Dollar General. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1.835 million. Dollar General is located at 145 S Main St. (US Hwy. 302). Dollar General signed a new, 15-year absolute net lease in February of 2016 that has approximately 10 years of term remaining and is followed by four, 5-year renewal options. The lease features 10% rent increases at the start of each renewal option.
Todd Tremblay, Bob Horvath, and Matt Nadler of Horvath & Tremblay also facilitated the sale of Dollar General in East Windsor, Conn. Horvath & Tremblay exclusively represented the seller and worked with JRW Realty as the sourcing broker on behalf of ExchangeRight, a vertically integrated real estate company with over $3.8 billion in assets under management to complete the transaction at a sale price of $1,691,429. Dollar General is located at 115 Main St. Dollar General has been at this location since 2013 and recently extended their lease demonstrating their commitment to this location and market. Dollar General has 7+ years of term remaining and is followed by five, 5-year renewal options. The lease features 10% rent increases at the start of each renewal option.
Bob Horvath and Todd Tremblay of Horvath & Tremblay have completed the sale of Mink Sq., a multi-tenant retail center in Seekonk, Mass. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1.66 million. Mink Sq. is a multi-tenant retail center located at 68-72 Mink St. The property is a two-building retail center that contains 10,025 s/f on a 1.47-acre parcel. Mink Sq. is 100% leased to nine tenants. The majority of the tenants have scheduled rent increases in their primary lease terms.
The retail center is improved by a complimentary mix of local tenants offering products and services for the surrounding community. The retail center is situated along Mink St. and is ¼-mile from Fall River Ave. (US Rte. 6), the areas primary retail corridor. Mink square is a ½-mile from I-195. The property enjoys outstanding frontage and visibility along Mink St. and is surrounded by national retailers, including the Walmart, Target, Stop & Shop, BJ’s. Lowe’s Home Depot and Kohl’s. Seekonk is bordered to the west by the densely populated city of East Providence and is 7-miles from downtown Providence. Mink Sq. benefits from strong area demographics with more than 167,500 people living within 5-miles of the property.
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