Horvath & Tremblay sells two retail properties for $9.028M
- MAREJ
- 7 hours ago
- 2 min read
Kyle Danielson closes CVS and Starbucks investment sales
Ambler, PA/Fredericksburg, VA — Horvath & Tremblay has completed the sale of two retail properties in the Mid-Atlantic for a total of $9.028 million.
Kyle Danielson of Horvath & Tremblay completed the $6.328 million sale of a CVS at 7000 West Butler Pike in Ambler, PA. Horvath & Tremblay exclusively represented the seller.
Constructed for CVS in 2012, the property consists of a 12,928 s/f building with a dedicated drive-through lane. CVS has more than 12 years remaining on its absolute NNN lease, with 10 five-year renewal options.
The property is situated at the signalized intersection of Butler Pike and Skippack Pike, or PA Rte.73, two primary roadways serving Ambler, Upper Dublin Twp. and surrounding Montgomery County communities. It benefits from strong visibility and accessibility within an established suburban retail corridor surrounded by residential neighborhoods and neighborhood-serving retail.
The trade area is also supported by corporate, pharmaceutical and professional office campuses throughout Upper Dublin, Fort Washington and adjacent submarkets. These facilities generate a substantial daytime population and support consistent weekday demand for convenience retail and pharmacy services.
Danielson also facilitated the $2.7 million sale of a Starbucks at 1699 Carl D Silver Parkway in Fredericksburg, VA. Horvath & Tremblay exclusively represented the buyer.
Starbucks has occupied the location since 2018 and preemptively extended its absolute NNN ground lease, demonstrating its commitment to the site and market. The tenant has 12 years remaining on the lease, with four five-year renewal options. The lease includes 10% rent increases every five years throughout the primary term and at the start of each renewal option.
The property is located at the signalized intersection of Carl D Silver Pkwy. and Cowan Blvd. within Central Park Plaza, a 2.2 million s/f power center. It offers strong visibility and frontage and is positioned to capture commuters traveling to I-95, less than one mile away.
The site is surrounded by national retailers and restaurants and is convenient to nearby residential neighborhoods, providing a built-in customer base.
