Horvath & Tremblay sells three retail properties in NE for $10.714 million

Foxborough, MA Horvath & Tremblay has completed the sale of three retail properties in New England for a total of $10,714,450. 

Bob Horvath, Todd Tremblay, Jack Laurendeau and Matt Siebert of Horvath & Tremblay have completed the sale of the Citizens Bank in Foxboro. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2.375 million. Citizens Bank is located at 4 Cocasset St. Citizens Bank signed a new 10-year lease at this property in 2023 and consolidated operations and deposits from two other locations (branches within the Stop & Shops in Foxboro and Plainville) into this downtown location. The Citizens Bank lease has eight years remaining on the primary lease term followed by three, five-year renewal options. The lease features rent increases at the start of each renewal option period. Citizens Bank is within one-mile of the town’s municipal offices and the town’s elementary, middle, and high schools. Additionally, the property is 2.3 miles from I-95, and 2.8 miles from Patriot Place, a 1.3 million s/f lifestyle center, and Gillette Stadium, home of the New England Patriots. 

Laurendeau has completed the sale of a Shaw’s in Concord, NH. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $7,534,450. Shaw’s is located at 20 D’Amante Dr. Shaw’s has been at this location since it was constructed in 2001 and has 2+ years remaining on their absolute NNN ground lease followed by six, five-year renewal options. The corporate guaranteed lease features 10% rent increases at the start of each option period. The visible Shaw’s is located at the intersection of Louden Rd. (NH Rte. 9) and D’Amante Dr., the main access road for the Steeplegate Mall and the connector road linking Loudon Rd. and Sheep Davis Rd. (NH Rte. 106) two of the city’s primary commercial corridors. The property is across the street from The Steeplegate Mall, adjacent to Starbucks and Home Depot, and close to Best Buy, and Target. The location also provides access to the region’s two major highways, I-93 and I-393 as well as U.S. Rtes. 3 and 202. 

Ryan O’Rourke of Horvath & Tremblay has facilitated the sale of a Domino’s in Spencer, Mass. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $805,000. Domino’s is located at 13 Pleasant St. Domino’s has been at this location since 2021 and has six years remaining on their triple net (NNN) lease followed by two, five-year renewal options. The lease features attractive 2% annual rent increases throughout the remaining lease term and option periods. Domino’s has frontage and visibility along Pleasant St. and is adjacent to the signalized intersection with Main St. (MA Rte. 9), the town’s primary commercial and commuter corridor. 

Domino’s is next to a new construction CVS, across the street from a Price Chopper (grocery store) and 1.2 miles from a Big-Y (grocery store) anchored shopping center. The property is close to residential neighborhoods and is also within a few miles of the town’s elementary, middle, and high schools, providing a captive and built-in customer base.