NJ, PA AND MD — Horvath & Tremblay have successfully completed the sale of four retail properties for $13,598,333. The properties include: Walgreens in New Jersey, KFC and Pep Boys in Pennsylvania and Dunkin’ Donuts in Maryland.
Bob Horvath, Todd Tremblay, and Peter Butler have completed the sale of Walgreens in Ewing, NJ. Horvath & Tremblay represented the seller to close the property for a sale price of $10,645,333 a 5.33% cap rate. Walgreens fully occupies a brand new, 14,680 s/f building located along North Olden Ave. Walgreens operates under a new 20-year corporately guaranteed, triple net (NNN) lease with 50, 1-year renewal options. The quintessential pharmacy location, situated in front of a popular ShopRite grocery store, is set on a highly visible, highly trafficked, signaled intersection, along a busy retail corridor that serves Ewing Township and its 36,000 residents.