News: Front Section
Posted: May 6, 2022
Horvath & Tremblay sells three retail properties in New England for $8.8 million
Sunapee, NH Horvath & Tremblay has completed the sale of three retail properties in New England for a total of $8,804,400. The deals include the following:
Bob Horvath and Todd Tremblay of Horvath & Tremblay completed the sale of ConvenientMD in Augusta, ME. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $5.077 million. ConvenientMD is located at 10 Whitten Rd. The stand-alone building was constructed for ConvenientMD in 2021 and contains 5,148 s/f, on a 0.84-acre lot. ConvenientMD has 19 years remaining on their absolute NNN lease, as well as four, five-year renewal options. The lease calls for 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. ConvenientMD is located in the Turnpike Mall Shopping Center and across the street from Hannaford Supermarket. The property is well positioned along Rte. 202, the primary commercial corridor in town, with many national retailers and restaurants in the immediate trade area. The property is located less than 0.2 miles from the I-95/Rte. 202 interchange providing convenient highway access and visibility for area residents and passing motorists.
Matt Nadler of Horvath & Tremblay completed the sale of Aspen Dental in Bristol, Conn. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1.499 million. Aspen Dental is located at 1128 Farmington Ave. and has been at this location since 1999. The tenant has two years of term remaining, plus one, five-year renewal option. The lease calls for annual increases in both the primary term and renewal option based on the change in the CPI-U. The property is strategically located along Farmington Ave. (US Rte. 6), the primary commercial corridor serving the area. The property is surrounded by the area’s primary grocery stores (Stop & Shop, ShopRite, Price Chopper and ALDI), and is across the street from Home Depot.
Hobart Hare, Horvath, and Todd Tremblay facilitated the sale of a Dollar General in Sunapee, N.H. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $2.229 million. Dollar General is located at 5 Rte. 103. This is a new construction Dollar General that will be completed this year. The property consists of a 9,100 s/f stand-alone building on a 2.55-acre parcel. Dollar General has a new 15-year corporate guaranteed absolute net lease followed by four, five-year renewal options. The lease calls for a 10% increase at the start of each renewal option.
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