News: Front Section
Posted: January 6, 2023
Horvath & Tremblay represents the sale of ConvenientMD in Burlington, MA for $7.37 million
Burlington, MA Todd Tremblay and Bob Horvath of Horvath & Tremblay have completed the sale of ConvenientMD. Horvath & Tremblay represented the seller while Danny Griffin and Eric Suffoletto of SRS Real Estate Partners procured the buyer to complete the transaction at a sale price of $7,370,214 million.
ConvenientMD is located at 181 Cambridge St. on Rte. 3A. The building was constructed for ConvenientMD in 2020 and contains 5,044 s/f, on a 0.35-acre lot. ConvenientMD has 18 years remaining on their absolute NNN Llease, as well as six, five-year renewal options. The lease calls for attractive 10% rent increases every five years throughout the base term and at the start of each renewal option. The property is located within the regional trade area along Rte. 202 at I-95 at the signalized intersection of Cambridge St. and Terry Ave. Cambridge St. is one of the area’s commercial and commuter corridors and bisects I-95/MA Rte. 128 1.5-miles from the property. Burlington is a thriving, densely populated suburb of Boston, along the Rte. 128 Technology Corridor. The property is across the street from a Shaw’s, the area’s grocery store, and is located with convenient access for residents.
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