News: Front Section
Posted: October 2, 2014
Horvath and Tremblay of Marcus & Millichap Real Estate Investment Services sell IHOP for $1.983 million
Bob Horvath, vice president of investments, and Todd Tremblay, vice president of investments, of Marcus & Millichap Real Estate Investment Services, one of the nation's largest real estate investment services firms, brokered the transaction of the IHOP.
IHOP, located along Long Pond Rd., closed at a sale price of $1.983 million, a 6.05% cap-rate. The IHOP franchisee signed the original 15-year lease in November 2010 which includes (2) five-year options and 10% rental increases scheduled every five years throughout the base term and the option periods. The property is located on an out-parcel in The Grove at Plymouth Shopping Center, a 425,000 s/f regional shopping center anchored by BJ's Wholesale Club and Kohl's. Additional retailers in the center include: TJ Maxx and HomeGoods, The Sports Authority, PetSmart, Off Broadway Shoes, Party City, Jo-Ann Fabrics and Panera Bread. Horvath and Tremblay exclusively represented the seller, Reverse Plymouth, LLC as well as the buyer, Joseph Motzkin.
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The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
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