News: Front Section
Posted: September 15, 2023
Horvath & Tremblay completes sale of Stop & Shop-anchored
Del Alba Plaza in Pittsfield, MA for $6.36 million
Pittsfield, MA Bob Horvath and Todd Tremblay of Horvath & Tremblay have completed the sale of the Stop & Shop-anchored Del Alba Plaza. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $6.36 million.
Del Alba Plaza is located at 1 Dan Fox Dr. The property consists of a free-standing 61,935 s/f Stop & Shop, a Stop & Shop gas station (2,000 s/f), and a three-unit 8,184 s/f satellite building leased to two regional tenants. Stop & Shop has one+ years remaining on their leases with four five-year renewal options. Stop & Shop’s lease features increases at the start of each renewal option. The Del Alba Plaza offers investors a stable, internet-resistant rent roll with 100% of the gross revenue derived from national or regional tenants. Additionally, the property offers upside through the lease up of the vacant space and the potential development of a pad site that would support a 3,500 s/f building. Del Alba Plaza is situated on a large 12.98-acre corner parcel at the signalized intersection of Dan Fox Dr. and South St. (US Rtes. 7 & 20), the area’s primary commercial and commuter corridor. The Del Alba Plaza has signage, and benefits from strong traffic counts. Del Alba Plaza is well located between the center of Lenox and downtown Pittsfield, the commercial, financial, and medical hub of the Berkshires, and is surrounded by national retailers and several hotels that drive traffic to the area.
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