Horvath & Tremblay sells MD Red Lobster
COLUMBIA, MD — Kyle Danielson, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Red Lobster in Columbia. Horvath & Tremblay procured the buyer in the transaction to close the property at a sale price of $5,462,286, a 5.6% cap rate. Red Lobster operates under a NNN lease with over 21 years of base term remaining. Attractive 2% annual rental increases are scheduled throughout the lease term and in the four, 5-year renewal options.