Horvath & Tremblay sells three retail properties for $9.738 million

Bristol, CT Horvath & Tremblay has completed the sale of three retail properties in New England for a total of $9,738,423.

Matt Nadler and Zach Smith of Horvath & Tremblay completed the $2 million sale of a Stop & Shop Gas Station at 701 Farmington Ave. in Bristol. Horvath & Tremblay exclusively represented the seller and sourced the buyer.

Stop & Shop Gas Station is situated on a .39-acre parcel with 10 fueling stations. Stop & Shop has operated a gas station at this location since its construction in 2009 on a 20-year absolute NNN lease. There are over three years of term remaining followed by eight, five-year renewal options. The lease features 10% rent increases at the start of each renewal option.

The Stop & Shop Gas Station is located along Farmington Ave. (CT. Rte. 6), one of town’s primary commercial and commuter corridors. The gas station is visible on Farmington Ave. with frontage and multiple access points. Situated adjacent to the Stop & Shop supermarket, the gas station benefits from the steady flow of grocery shoppers and daily commuters. Farmington Ave. offers an array of national retailers as well as dining establishments and service-oriented businesses.

Steven Schiavello, Patrick Gray, Matt Nadler and Jack Laurendeau of Horvath & Tremblay facilitated the sale of a Firestone at 2897 Berlin Tpke. in Newington. Horvath & Tremblay exclusively represented the seller and procured the buyer at a sale price of $2,488,423.

The single tenant absolute NNN ground leased Firestone was constructed in 2015 and contains 8,400 s/f on an acre parcel. Firestone has 14 years remaining on their lease with seven, five-year renewal options and a 6.5% rental increase every five years throughout the primary term, and at the start of each renewal option.

The property is positioned along Berlin Tpke. (U.S. Rte. 5), central Connecticut’s primary commercial and commuter corridor. Firestone benefits from access and visibility with frontage on Rte. 5, attracting both residents and commuters. The property is near the signalized intersection with Main St. and Griswoldville Ave. and is near to Rtes. 9 and 3 and I-91. 

Firestone is surrounded by large shopping centers and national and local retailers and restaurants. Additionally, the property is across the street from the Conn. Department of Transportation’s headquarters and is near to residential neighborhoods and area schools providing a built-in customer base.

Jack Collins, Bob Horvath and Todd Tremblay of Horvath & Tremblay completed the $5.25 million sale of a Kinney Drugs at 47 Executive Dr. in Shelburne, VT. Horvath & Tremblay exclusively represented the seller and sourced the buyer.

Kinney Drugs has been at this location since it was constructed and has six years remaining on their lease with two, five-year renewal options. The lease calls for 10% rent increases every five years throughout the primary lease term and at the start of each renewal option.

The property is situated on a corner parcel at the signalized intersection of Executive Dr., Bay Rd., and Shelburne Rd. (U.S. Rte. 7). Kinney Drugs has visibility and frontage along Shelburne Rd. (U.S. Rte. 7), the area’s primary commercial and commuter corridor. The property is .5 miles from the shores of Lake Champlain, 2.3 miles from the center of Shelburne and three miles from a developed commercial district on the border of South Burlington and Burlington, VT. The property is near national and local retailers and restaurants, highways, area schools, and residential neighborhoods that drive traffic to the area. Shelburne is positioned in northwestern Vermont along the shores of Lake Champlain five miles south of downtown Burlington and the University of Vermont.