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  • Writer's pictureMAREJ

Horvath & Tremblay completes the sale of three Mid-Atlantic retail properties for $10,406,092


MID ATLANTIC — Kyle Danielson and Matt Nadler of Horvath & Tremblay completed the sale of the Lexington Village Pad Sites in Lexington Park, MD. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $3.72 million. The Lexington Village Pad Sites are located at 46320 Lexington Village Way in Lexington Park, MD. The property was constructed in 2014 and 2016 and consists of a free-standing single tenant Sonic ground lease and a 4,850 s/f inline strip center leased to T-Mobile, Jimmy John’s, and Educational Systems Federal Credit Union.

The pad sites are shadow anchored by Lexington Village (not part of the offering), which is situated at the signalized intersection of Three Notch Rd. and Buck Hewitt Rd. and also at the intersection of Three Notch Rd. and Lexington Village Way.

Danielson, Hill Kanellos and Austin Smith of Horvath & Tremblay have completed the sale of Starbucks in New Castle, DE. Horvath & Tremblay represented the seller to complete the transaction at a sale price of $3,118,812. This is a new construction, build-to-suit Starbucks and features Starbucks’ latest architectural design, best-in-class drive-thru experience, and outdoor patio space.

The area is home to the confluence of Interstates 95, 295, and 495 and US Highways 13 and 202. Additionally, the property is surrounded by densely populated residential neighborhoods and pockets of commercial development as well as several large business and industrial parks providing a robust customer base.

Horvath & Tremblay’s Danielson, Kanellos and Smith also facilitated the sale of Firestone in Smyrna, DE. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $3,567,280. Firestone is located at 15 S Cory Ln. in Smyrna, DE. The new construction Firestone was completed in 2021 and contains 6,116 s/f building on a 0.83-acre parcel of land. Firestone has 13+ years remaining on their Absolute NNN Lease with five (5), 5-year renewal options.

The property is also just 0.25-miles from DE Highway 1, the area’s primary commuter corridor. The area has seen significant development over the last few years and is home to numerous national retailers including Food Lion, Aldi, Tractor Supply Co, Walgreens, Starbucks and several nationally recognized quick serve restaurants, all of which drive traffic and customers to the area. The property is also just 3-miles from a Walmart Distribution Center. Smyrna is located in north-central Delaware approximately 10-miles north of Dover.

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