MID ATLANTIC — Horvath & Tremblay has completed the sale of three Mid-Atlantic retail properties for $10,070,835.
Kyle Danielson and Matt Nadler of Horvath & Tremblay have successfully completed the sale of Starbucks in Madison Heights, VA. Horvath & Tremblay represented the seller and procured the buyer in this transaction at a sale price of $2,780,835. Starbucks is located at 4744 S Amherst Hwy. in Madison Heights, VA. Starbucks has a ten year double net lease with six, five-year renewal options. The lease calls for rent increases of 10% every five years throughout the base term and option periods. The new construction Starbucks is well-located along S Amherst Hwy. (US Rte. 29 BUS), the area’s primary commercial and commuter corridor. The property enjoys outstanding frontage and visibility and is surrounded by the area’s grocery stores, restaurants, and national retailers driving traffic to the area. Starbucks is positioned 0.4-miles from a Food Lion, 0.9-miles from a Lowe’s, and 1.3-miles from a Walmart Supercenter.
Kyle Danielson and Hill Kanellos of Horvath & Tremblay have successfully completed the sale of Wendy’s in Powhattan, VA. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $1,400,000. The Wendy’s is located at 1792 South Creek One in Powhattan, VA. Wendy’s was constructed in 2006 and has a 3,288 s/f building on a 1.19-acre parcel. Wendy’s has 17+ years remaining on their Absolute NNN lease with five, 5-year renewal options. The lease features attractive 10% rent increases every five years throughout the primary term and renewal options. Wendy’s occupies a pad site to a Food Lion anchored center and is surrounded by the area’s national retailers, all of which drive traffic to the immediate area.
Brian Ahrens and Michael Lombardi of Horvath & Tremblay have completed the sale of Caliber Collision in Bordentown, NJ. Horvath & Tremblay represented the seller to complete the transaction at a sale price of $5,890,000. Caliber Collision is located at 60 US Rte. 130 in Bordentown, NJ. The property consists of a 18,080 s/f building on a 3.56-acre parcel of land. The building was constructed for Caliber Collision in 2019 and they have 11+ years remaining on their 15-year Triple (NNN) lease followed by two, 5-year renewal options. The lease features 10% rental increases every 5-years throughout the primary lease term and at the start of each option period. The property is situated along US Rte. 130, just north of the split with US Rte. 206, two of the area’s primary commercial and commuter roadways.