News: Retail
Posted: February 22, 2019
Horvath & Tremblay sells ten properties totaling $40.016 million - including the $8.75 million sale of Morrisville Plaza in Vermont
Morrisville, VT Horvath & Tremblay has completed the sale of 10 properties for total sales of $40,016,004. The properties include: Morrisville Plaza in Vermont, Chase Bank and Sonic in Colorado, KFC in Michigan, two Chili’s restaurants in Florida, Dollar Tree retail center in New Hampshire and three CVS properties in Mass.
Bob Horvath and Todd Tremblay of Horvath & Tremblay have completed the sale of Morrisville Plaza in Morrisville, VT. Horvath & Tremblay exclusively represented the seller and procured the buyer in the transaction that closed at a sale price of $8.75 million. Morrisville Plaza includes 104,178 s/f of gross leasable area, including two ground leases to
McDonald’s and People’s United Bank.
Matthew Nadler exclusively represented the seller and procured the buyer of Chase Bank and Sonic in Littleton, CO. The Chase Bank property closed at a sale price of $1.55 million, a 5.67% cap rate, while Sonic closed at a sale price of $710,000.
The sale of KFC in Benton Harbor, MI closed at a sale price of $1.06 million, a 5.5% cap rate. Robert DiFranco procured the buyer in the transaction. KFC is operated by KBP Foods.
Jeremy Black and Brad Canova procured the buyer of two individual Chili’s properties located in Venice and Orlando, Fla. The properties closed at sale prices of $2,494,076 and $4,258,150 respectively.
Brian Ahrens and Horvath represented a 1031 exchange buyer in the acquisition of a Dollar Tree retail center in Salem, N.H., which closed at a sale price of $3.725 million, a 5.73% cap rate.
The sale of three CVS in properties in Mass. was completed by Horvath, Tremblay and Brad Canova. They represented the 1031 exchange buyer in the acquisition of the properties. CVS in Randolph closed at a sale price of $4,829,778, a 5.39% cap rate; CVS in Franklin closed at a sale price of $6,943,519, a 5.39% cap rate; and CVS in Yarmouth closed at a sale price of $5,695,481, a 5.4% cap rate.
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