Horvath & Tremblay sells 3 Mid-Atlantic retail properties

Total $13,367,257 in Maryland, Virginia & North Carolina

Mid-Atlantic — Kyle Danielson and Austin Smith of Horvath & Tremblay have completed the sale of Royal Farms in Laurel, MD. Horvath & Tremblay represented the seller and sourced the buyer to complete the transaction at a sale price of $4,867,257. Royal Farms is located at 6901 Van Dusen Rd. in Laurel. The gas station and convenience store was constructed in 2019 and has 13+ years remaining on its Absolute NNN ground lease with four, five-year renewal options. The lease calls for an attractive 10% rent increase every five years throughout the primary lease term and at the start of all four five-year renewal options.

Royal Farms is located adjacent to the signalized intersection of Konterra Dr. and Van Dusen Rd. The property enjoys outstanding frontage, visibility, and access and is 0.4 miles from I-95 and 1.5 miles from US Rte. 1, the area’s primary commercial corridor.

Royal Farms is adjacent to Avalon Laurel, a 344-unit Class A apartment community, and is across from a larger development that is home to Starbucks, Chipotle, Wawa, and Duvall Westside, a 484-unit class A apartment community. The property is surrounded by large apartment communities and densely populated residential neighborhoods that provide a captive customer base and enjoys convenient access to the area hospital, several large business and technology campuses, and a large industrial park, all of which drive traffic to the immediate area.

Danielson and Smith also facilitated the sale of a Shake Shack in Newport News, VA. Horvath & Tremblay represented the seller to complete the transaction at a sale price of $3,400,000. Shake Shack is located at 12103 Jefferson Ave. in Newport News. The free-standing single-tenant Shake Shack consists of a 3,000 s/f building on a 0.81-acre corner parcel of land. Shake Shack has 9+ years remaining on their lease with four, five-year renewal options. The lease calls for attractive 10% increases every five years throughout the primary lease term and at the start of each renewal option.

Shake Shack is located at the signalized intersection of Oyster Point Rd. (VA Rte. 171) and Jefferson Ave. (VA Rte. 143), one of the area’s primary retail corridors. The property enjoys outstanding visibility, frontage, and access and is part of a dominant trade area that is home to countless national retailers and restaurants, the Patrick Henry Mall, Riverside Regional Medical Center (Hospital), Newport News/Williamsburg International Airport, and major roadways, including US Rtes. 17 and 60 and I-64, all of which drive traffic to the area.

Kyle Danielson, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of a Sheetz in Sanford, NC. Horvath & Tremblay represented the seller to complete the transaction at a sale price of $5,100,000. Sheetz is located at 2304 Jefferson Davis Highway in Sanford. The new construction gas station and convenience store opened in January of 2025. Sheetz has a 15-year Absolute NNN ground lease with seven, five-year renewal options. The lease calls for 10% rent increases every five years throughout the primary lease term and at the start of each of the five-year renewal options.

Sheetz is located at the signalized intersection of Jefferson Davis Highway (US Highway 1/501) and Center Church/Tramway Rd. (NC Rte. 78), the area’s primary commercial and commuter corridors. The property enjoys outstanding frontage, visibility, and access and sits at the center of a newly developed commercial cluster.

Sheetz shares the intersection with Walgreens, CVS, several new construction QSRs, and Tramway Crossing, a Food Lion-anchored shopping center.