Horvath & Tremblay sells three retail properties for $10,027,417

Nashua, NH Horvath & Tremblay has completed the sale of three retail properties in New England for a total of $10,027,417.

Bob Horvath, Todd Tremblay and Jack Laurendeau of Horvath & Tremblay have completed the sale of a Starbucks and Verizon in Nashua, NH. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $3.46 million. The retail center is located at 611 Amherst St. The two-tenant property is improved by Starbucks and Verizon and contains 5,589 s/f on a 2.74-acre parcel. Both Starbucks and Verizon have been at the center since 2008 and have exercised renewal options, demonstrating their commitment to the site and the market. Starbucks and Verizon each have two years remaining on their lease with two, 5-year options (with 10% increases at the start of each). The property is strategically positioned along Amherst St., offering frontage and visibility within one of the area’s most active commercial corridors. Located near the junction with Everett Tpke., the site benefits from a dominant regional trade area supported by numerous businesses, national retailers, area schools, including nearby colleges, and Nashua Airport, all of which generate significant daily traffic. Surrounded by established residential neighborhoods and educational institutions, the property benefits from a built-in and consistent customer base. 

Bob Horvath, Todd Tremblay and Jack Laurendeau of Horvath & Tremblay have also facilitated the sale of a Chick-fil-A in Bristol, CT. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $5,176,470 which represents a 4.5% Cap Rate. The new construction Chick-fil-A is located at 1249 Farmington Ave. The property features a 15-year Absolute NNN ground lease with eight, 5-year renewal options. The 5,185 s/f building is situated on a 1.5-acre parcel and features an attractive architectural design and drive-thru facility. The lease features 10% rent increases in years 9 and 14 and at the start of each option period providing the investor with an attractive increase in revenue and a hedge against inflation. The new construction property has outstanding visibility and frontage along Farmington Ave. (US Rte. 6), the area’s primary commercial and commuter corridor. Chick-fil-A is surrounded by local and national retailers and restaurants that drive traffic to the area. The property is convenient to CT Rtes. 69, 72 and 177, and is close to densely populated residential neighborhoods, schools, and employers (including ESPN’s flagship campus) providing a built-in customer base. 

Michael Lombardi and Zach Smith of Horvath & Tremblay have completed the sale of Dollar General in North Providence, R.I. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,900,751. Dollar General is located at 1931 Smith St. Constructed in 2016, Dollar General has five years remaining on their triple net lease followed by five, 5-year renewal options. The lease features attractive 10% rent increases at the start of each renewal option. Dollar General is located along Smith St. (US Rte. 44) and is seconds from Mineral Springs Avenue (RI Rte. 15), two of the area’s primary commercial and commuter corridors connecting the property with downtown Providence. Dollar General is positioned three-miles north of the Providence CBD and is surrounded by densely populated residential neighborhoods and area schools providing a built-in customer base. Additionally, the property is just 1.5 miles from Our Lady of Fatima Hospital and Rhode Island College.