Horvath & Tremblay of Marcus & Millichap broker $2.57 million sale

Bob Horvath and Todd Tremblay, vice presidents of investments at Marcus & Millichap Real Estate Investment Services, one of the nation's largest real estate investment services firms, have brokered the transaction of the Stop & Shop Gas and Foodlane Convenience Store. Located along heavily traveled Post Road, which boasts traffic counts in excess of 20,600 vehicles per day, Stop & Shop Gas signed a new 15-year lease in January. The lease is guaranteed by Stop & Shop Supermarket, LLC with scheduled rental escalations every five years throughout the base term and each of the (6) five-year options. The gas station is newly built and is strategically located as it accommodates the two Stop & Shop locations in North Kingstown. Also included in the sale is the Foodlane convenience store. Foodlane offers customers the convenience of a walk-in store as well as a drive-thru option. Located within a half mile of the property are two retail centers tenanted by national and regional tenants including: Stop & Shop, Ocean State Job Lot, GameStop, Planet Fitness, Olympia Sports, Marshalls, Citizens Bank, Wendy's, Domino's Pizza, Radio Shack, Rite Aid, Ace Hardware and Dunkin' Donuts. The sale closed at a price of $2,568,573. Horvath and Tremblay exclusively represented the seller, C&B Post Road, as well as the buyer, ARCP Acquisitions, LLC.