News: Retail
Posted: September 22, 2010
Horvath, Tremblay, Cole of Marcus & Millichap broker $3.272 million sale
Bob Horvath, Todd Tremblay and Ethan Cole of Marcus & Millichap Real Estate Investment Services have brokered the sale of an existing 6,850 s/f AutoZone located in Seabrook, N.H. The property located on Lafayette Rd. sold for a cap rate of 7.85%. AutoZone had four years remaining on is first option period. Neighboring tenants in the area include: Lowes, Market Basket, T.J. Maxx, Wal-Mart, Shaw's, Home Depot.
The 10,318 s/f CVS located in Lawrenceville, Ga. was sold at an 8.57 cap. The store had 8.5 years remaining on its lease with 4 five-year options. Neighboring tenants include: Wachovia, Wendy's, McDonald's, Burger King, Applebee's, KFC, and Bank of America.
Both properties were purchased by LAWGA Realty Co. LLC and sold for $3.272 million.
The seller for AutoZone in Seabrook, N.H. was 519 Lafayette Road, LLC. The seller for CVS in Lawrenceville, Ga. was Calspak Investments, LLC.
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