Horvath & Tremblay sells Trader Joe’s in Shelton for $7,882,639

Shelton, CT Bob Horvath, Todd Tremblay, Matt Nadler and Jack Laurendeau of Horvath & Tremblay have completed the sale of Trader Joe’s. Horvath & Tremblay exclusively represented the seller and brought the buyer to complete the transaction at a sale price of $7,882,639 which represents a 4.95% Cap Rate.

Trader Joe’s is located at 775 Bridgeport Ave. Trader Joe’s is a pad site within Fountain Square, a new construction shopping center that consists of a 91,288 s/f shopping center positioned on 15.85-acres of land. The new construction Trader Joe’s has nine years remaining on their double net lease with four, five-year renewal options. The lease calls for rent increases every five years throughout the primary lease and at the start of each renewal option. Rent shall increase by the cumulative five-year change in CPI with a cap of 10% for each adjustment. Trader Joe’s is extremely well located at the center of a busy retail, medical and corporate office corridor along Bridgeport Ave. between Rte. 8 and the Trapp Falls Reservoir in Fairfield County. The destination trade area serves the surrounding towns of Seymour, Ansonia, Derby, Monroe, and Trumbull, as well as travelers on CT Rte. 8, a primary commuter highway serving over 66,000 vehicles per day. Fountain Square is surrounded by high-end office buildings with a captive employment base, national retailers and restaurants, and luxury apartment communities that drive traffic to the immediate area.

Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 Exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.