May 23, 2016 – Horvath & Tremblay has successfully procured the buyer to complete the sale of a free standing Aspen Dental in Tilton, New Hampshire. The property closed at a sale price of $1,700,000, a 6.6% cap rate.
Aspen Dental benefits from its prominent location and high visibility along Route 3 at the signalized intersection to the entrance of Tilton Center, a 243,000-square foot shopping center anchored by Lowe’s Home Improvement and Kohl’s. Newly Constructed in 2014, the property is located on an out-parcel to the center and is adjacent to a free standing Pizza Hut and Chili’s Grill and Bar. Aspen Dental signed a new 10-year triple net (NNN) lease in January 2014 which includes (3) five year options with rental escalations scheduled every five years throughout the base term and at the beginning of each option period. The property is strategically located less than one mile west of Interstate 93 at Exit 20 in a strong retail area with retailers including Walmart Supercenter, Market Basket, McDonald’s, KFC, Holiday Inn Express and Suites, and Dunkin’ Donuts. Tanger Outlets is located down the street from the property, featuring premium factory outlets including Brooks Brothers, Polo Ralph Lauren, J. Crew, Tommy Hilfiger, Nike and over 50 additional retail stores.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Recently recognized by Globe Street and Real Estate Forum as one of the “Top 20 Retail Sales Brokers” in the Industry, our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. We have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges.