News: Front Section
Posted: November 5, 2021
Horvath & Tremblay sells Walgreens and John Brewers Tavern for $10.4 million
Waltham, MA Bob Horvath and Todd Tremblay of Horvath & Tremblay have completed the sale of Walgreens and John Brewers Tavern. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $10.4 million.
The Walgreens and John Brewers Tavern are located at 21 & 39 Main St. The two adjacent, fee-simple properties are leased to Walgreens and John Brewer’s.
Walgreens, located at 21 Main St., has been at the property for more than 22 years and just exercised two of their renewal options early, demonstrating their commitment to the site and the market. Walgreens has 12+ years remaining on their lease with five, 5-year renewal options. John Brewer’s, located at 39 Main St., has been at this location for more than 22 years.
21 Main St. contains a 13,855 s/f freestanding Walgreens with a drive-thru on a 1.06-acre parcel. 39 Main St. contains a 6,257 s/f freestanding John Brewer’s on a 0.72-acre parcel.
The properties are well located at the intersection of Main St. (U.S. Rte. 20) and Warren St. in a high-density residential neighborhood 1.5-miles from downtown and its shops, restaurants, and nightlife as well as Bentley University. The property is located 10 miles to the west of Boston and less than three miles from both I-90 (the Mass Pike) and I-95 (Rte. 128) offering access to Boston, Cambridge, and the Rte. 128 Technology Corridor.
Tags:
Front Section
MORE FROM Front Section
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,
.png)
Columns and Thought Leadership
Make PR pop by highlighting unique angles - by Stanley Hurwitz
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.
Four tips for a smooth 1031 Exchange - by Bill Lopriore
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
