Horvath & Tremblay complete the sale of four retail properties for $16,141,627

Mid Atlantic — Horvath & Tremblay has completed the sale of four retail properties for $16,141,627.

Kyle Danielson and Matt Nadler of Horvath & Tremblay has successfully completed the sale of Chase Bank in Prince Frederick, MD. Horvath & Tremblay represented the seller to complete the transaction at a sale price of $5.55 million, a 4.05% Cap Rate. Chase Bank is located at 55 Stoakley Rd. The newly built retail branch consists of a 3,558 s/f building with a dedicated drive through ATM lane on a 1.39-acre parcel. Chase Bank has a brand-new 20-year ground lease with four, five-year extensions and rent increases of 10% every five years throughout both the base term and extension periods.

Jeremy Black and Matt Nadler of Horvath & Tremblay have successfully completed the sale of a Bank of America in Clifton Park, NY, representing the seller and procuring the buyer to complete the transaction at a sale price of $5.2 million. Bank of America is located at 1 Clifton Country Rd. The stand-alone building consists of 4,750 s/f and sits on a 1.0-acre corner lot with excellent visibility. Exhibiting their commitment to the location, Bank of America extended their triple-net lease for 10 years through November 2029 with two, five-year renewal options remaining. The lease features variable rental increases every five years during the primary term and remaining option periods. Bank of America is situated on a corner parcel at the signalized intersection of Clifton Country Rd. and New York State Rte. 146.

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