News: Front Section
Posted: June 11, 2021
Horvath & Tremblay sells four retail properties for $14 million
Brockton, MA Horvath & Tremblay has completed the sale of four retail properties in New England for a total of $14,279,409.
Bob Horvath and Todd Tremblay completed the sale of the Belmont Plaza in Brockton. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1.285 million. The Belmont Plaza is located at 776 Belmont St. (Rte. 123). The property is a 4,400 s/f three-tenant retail center on a 0.36-acre parcel and was constructed in 2006. The Belmont Plaza is 100% leased by three tenants with strong brand recognition. All three tenants have net leases with scheduled rent increases in either their base term or in their renewal options. The Belmont Plaza is improved by Subway, A-One Dental and Miracle Ear.
Aaron Huntley and Horvath of Horvath & Tremblay have facilitated the sale of Carrier Place in Concord, N.H. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $8 million. The property was acquired by Carrier Place, LLC, an entity owned by Patrick O’Connell and Christian Poyant. Carrier Place is located at 265 & 273 Loudon Rd. Completed in 2015, the two-building property contains 10 suites spread over 27,165 s/f of gross leasable area on a 4.6-acre parcel.
Horvath & Tremblay’s Dan Bernardini and Horvath completed the sale of Rite Aid in Concord, N.H. Horvath & Tremblay exclusively represented the seller and sourced the buyer to complete the transaction at a sale price of $3.918 million. Rite Aid is located at 165 North State St. (US Rte. 3). The stand-alone building contains 14,693 s/f, including a drive-thru on a 2.06-acre parcel. Rite Aid signed a new 15-year absolute NNN lease, demonstrating their commitment to the location and the market.
Joe Desalvo and Hobart Hare of Horvath & Tremblay completed the sale of Safelite AutoGlass in Worcester, Mass. Horvath & Tremblay exclusively represented the seller and sourced the buyer to complete the transaction at a sale price of $994,748. Safelite AutoGlass is located at 229 Park Ave. Safelite AutoGlass signed a new, 10-year lease in 2015 that currently has over four years of term remaining and is followed by four, five-year renewal options.
Tags:
Front Section
MORE FROM Front Section
Front Section
McEvoy of The Conrad Group brokers $2.9 million sale of industrial building
Hingham, MA The Conrad Group has brokered the sale of 55 Research Rd., South Shore Park. The property consists of a 20,340 s/f single story manufacturing building on two acres of land.
Columns and Thought Leadership
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
The doctor is in: How medical leases differ from retail and office spaces - by Brian Cafferty
As healthcare facilities, often referred to as “Doc in a Box” clinics, increasingly move into traditional retail spaces, landlords are more frequently leasing to medical tenants. Unlike standard retail or office leases, medical facilities come with a unique set of considerations that must be carefully addressed to ensure a successful tenancy.
5 Questions to ask when choosing a real estate broker - by Elizabeth Perez Barlett
>They say, “April showers bring May flowers,” but this season may bring more movement in the housing market as springtime is one of the most popular times for home buying and selling. Although spring is one of the strongest seasons for the residential market, it may not be all rosebuds and butterflies if you don’t have the right advisors.