News: Front Section
Posted: July 28, 2017
Horvath & Tremblay completes three sales totaling $11.4 million
Webb Place Shopping Center - Dover, NH
Dover, NH Horvath & Tremblay continues to place capital along the east coast with recent sales totaling $11.4 million. Recent sales include Webb Place Shopping Center in Dover, Wendy’s in Ocala, Florida, and Taco Bell in Portland, Maine.
Horvath & Tremblay exclusively represented the seller and procured the buyer of Webb Place Shopping Center which closed at a sale price of $7.065 million. The property is a 18,645 s/f Starbucks anchored retail center located on 1.88 acres. The retail center is leased to a tenant mix including: Starbucks, Five Guys, Sprint, Convenient MD, and Access Sports Medicine & Orthopedics. Starbucks is located on the end-cap of the center and offers customers the convenience of a drive thru. Webb Place Shopping Center is located at the signalized hard corner intersection of the heavily traveled Indian Brook Rd. and Central Ave. off of Spaulding Tpke.
Bob Horvath and Todd Tremblay also procured the buyer of Wendy’s in Ocala, Florida which closed at a sale price of $2.254 million, a 5.1% cap rate. Wendy’s fully occupies the 3,556 s/f prototype building which is situated on a 64,881 s/f parcel with a drive up window and parking. Wendy’s signed a brand new 20-year lease commencing at the close of escrow with four, five year options.
The sale of Taco Bell in Portland, was finalized at a sale price of $2.092 million a 6.1% cap rate. Matthew Nadler along with Horvath and Tremblay represented the seller in the transaction. As a commitment, this location was renovated to meet Taco Bell’s new, modern prototype design and a new 20-year triple net lease was signed. Situated along Washington Ave., the property experiences high traffic counts and is south of I-95.
Horvath & Tremblay is one of the most active and successful investment real estate brokerage firms in the United States. Their 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.
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