Horvath & Tremblay sells five retail properties in the Mid-Atlantic for $12,456,208

Danielson, Horvath, Tremblay, Smith, and Lombardi orchestrate Mid-Atlantic transactions

VIRGINIA/NORTH CAROLINA /NEW JERSEY — Horvath & Tremblay has completed the sale of five retail properties in the Mid-Atlantic for a combined total of $12,456,208.

Kyle Danielson, Bob Horvath, and Todd Tremblay of Horvath & Tremblay represented the seller in the sale of a Chipotle located at 2004 S Main St., Farmville, VA.

The property is currently under construction with an anticipated rent commencement date of April 30, 2026. Chipotle executed a 15-year absolute NNN lease with four, five-year renewal options, featuring 10% rent increases every five years throughout the base term and renewals.

Situated along S Main St., the site benefits from strong visibility along the area’s primary commercial and commuter corridor. The property is surrounded by national and local retailers, restaurants, and branded hotels.

Kyle Danielson and Austin Smith of Horvath & Tremblay represented the seller and sourced the buyer in the sale of a freestanding Arby’s at 3200 W Mercury Boulevard, Hampton, VA.

The 1,995 s/f building sits on a 0.57-acre corner parcel and features a recently extended lease, demonstrating tenant commitment to the site. The lease includes more than six years remaining with one five-year renewal option and a 10% rent increase at the start of the option period.

Located at the intersection of Pennwood Dr. and W Mercury Blvd. (US Rte. 258), the property benefits from strong visibility and access within a dominant retail corridor near I-64 and I-664, the Peninsula Town Center, Sentara CarePlex Hospital, Langley Air Force Base, and other major regional demand drivers.

Horvath & Tremblay represented the seller in the sale of a Sheetz located at 2304 Jefferson Davis Highway, Sanford, NC.

The newly constructed gas station and convenience store opened in January 2025 and is encumbered by a 15-year absolute NNN ground lease with seven, five-year renewal options. The lease includes 10% rent increases every five years throughout the primary term and renewal periods.

The property is positioned at a signalized intersection of US Hwy. 1/501 and NC Rte. 78, surrounded by a growing commercial corridor that includes Walgreens, CVS, new QSR developments, and the Food Lion-anchored Tramway Crossing shopping center.

Michael Lombardi of Horvath & Tremblay has completed the sale of Brownstone Mill in Midland Park, NJ. Horvath & Tremblay represented the seller and sourced the buyer to complete the transaction at a sale price of $2,825,000. Brownstone Mill is located at 11 Paterson Ave. in Midland Park. The Brownstone Mill Shops consist of 13,772 s/f spread across four buildings on a large 7.15-acre corner parcel. The property has enjoyed outstanding historical occupancy and is currently 97.34% leased. Brownstone Mill Shops are home to 21 tenants and one vacant unit. The property is situated in the center of Midland Park’s commercial district, adjacent to the busy Goffle Rd. and Godwin Avenue commercial corridors.

Lombardi also facilitated the sale of a retail building in Teaneck, NJ. Horvath & Tremblay represented the seller and sourced the buyer to complete the transaction at a sale price of $418,000. The retail building is located at 418-420 Cedar Ln. in Teaneck. The property is improved by a single-story building and is 100% leased to Different Breed Fitness Studio and Aquarius Health Foods. The building contains 2,088 s/f and is situated on a 0.04-acre parcel of land. The property benefits from a prominent location along Cedar Lane, a key commercial thoroughfare, and offers convenient connectivity to Teaneck Rd. and Queen Anne Rd., both of which serve as major commuter routes.