Horvath & Tremblay completes three
retail property sales for $11.519m

Pittsfield, MA Horvath & Tremblay has completed the sale of three single tenant properties for a total of $11,518,611.

Aaron Huntley of Horvath & Tremblay has completed the sale of Sunfarm Solar. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete this transaction at a sale price of $750,000. Sunfarm Solar is located at 1282-1288 Churchill St. The property consists of 32.86-acres and is leased to Sunfarm Solar who have 19+ years remaining on their Absolute NNN lease with two, five-year renewal options. The lease features attractive 3.75% rent increases every five-years throughout the initial term and at the start of each of the renewal options. Sunfarm Solar is one of the longest-operating solar energy companies and continues to be a growing presence in the rapidly expanding energy market. Sunfarm Solar has installed 500 solar systems in the commercial, residential, non-profit, education and agricultural markets. It owns and operates systems in New Jersey, Massachusetts, Rhode Island, New York, Connecticut, and Puerto Rico. The property is located along Churchill St. in a rural neighborhood in the western portion of Pittsfield at the foot of the Pittsfield State Forest and in between Pontoosuc Lake and Lake Onata. The property is approximately 4-miles from downtown and the intersection of US Routes 7 and 20 and MA Route 9, the area’s primary commercial and commuter corridors. Pittsfield is the commercial, financial, and medical hub of the Berkshires.

Brendan Conway of Horvath & Tremblay has completed the sale of Walgreens in Southborough, Mass. Horvath & Tremblay represented the buyer to complete this transaction at a sale price of $6.291 million. Walgreens is located at 78 Turnpike Rd. The stand-alone building contains 13,860 s/f, including a drive through on a 1.87-acre corner lot. Walgreens has been at this location since its construction in 2008 and has eight years remaining on their triple net lease, as well as fifty one-year renewal options. The property is well located at the intersection of Oak Hill Rd. and Turnpike Rd. (MA Route 9), the area’s primary commercial and commuter corridor. Walgreens enjoys access to MA Routes 30 and 85 as well as I-90 and I-495. The property is 5.5 miles from downtown Framingham and 25-miles from Boston’s Central Business District.

Brian Ahrens of Horvath & Tremblay has completed the sale of Cape Cod Healthcare in Hyannis, Mass. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $4,477,611. Cape Cod Healthcare is located at 43-53 Lewis Bay Rd. The mixed-use investment property is 100% leased to Cape Cod Healthcare and is comprised of three buildings with a total of 11,147 s/f of rentable space on 0.9-acres. The property consists of medical office space and six residential units. Cape Cod Healthcare has four years remaining on their lease double net lease with two, two-year renewal options. Their lease calls for attractive 3% annual rent increases throughout the primary term and renewal options. Cape Cod Healthcare is the leading provider of healthcare services for residents and visitors of Cape Cod. With more than 450 physicians, 5,300 employees and 790 volunteers. The property is located across the street from Cape Cod Hospital’s primary campus and is well-positioned downtown. The property is within walking distance from downtown, Hyannis Harbor, Martha’s Vineyard and Nantucket ferries, and numerous national and local tenants. The property is a short drive from Barnstable County airport and shopping centers such as the Cape Cod Mall, which is home to over 80 stores. Major national tenants in the area include Home Depot, Hobby Lobby, HomeGoods, Dollar Tree, Whole Foods, Stop & Shop, McDonald’s, Chick-Fil-A, and Wendy’s.