October 12, 2016 – Bob Horvath and Todd Tremblay of Horvath & Tremblay has successfully completed the sale of Dollar Tree in East Hartford, Connecticut. Bob and Todd represented the seller to close the sale at a price of $1,473,000, a 6.6% cap rate.
Centrally located in downtown East Hartford, Dollar Tree fully occupies the 13,724-square foot property positioned with high visibility at the hard-corner signalized intersection of School Street and Burnside Avenue. The building’s unique design includes an all brick exterior, corner entrance, elevated canopy and a drive-thru which has been preserved. This is a relocation store for Dollar Tree, which previously occupied a smaller in-line retail space nearby. Dollar Tree operates under a new 10.5-year, corporately guaranteed double net (NN) lease with minimal landlord responsibilities. Located directly across the street from the property are the East Hartford Police Department and the Wickham Library. The property benefits from its strategic location within a densely populated area of over 219,000 people and 86,000 households within a five mile radius.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.