November 7, 2016 – Bob Horvath, Todd Tremblay, and Peter Butler of Horvath & Tremblay, have successfully completed the sale of the ground lease of Kauffman Tire in Largo, Florida. Horvath & Tremblay worked exclusively with the seller and procured buyer to close the sale at a price of $1,835,000, a 5.5% cap rate. The broker of record for the transaction was DZ Net Lease Realty, LLC.
Strategically located at the signalized intersection of North Missouri Avenue and Rosery Road, Kauffman Tire will occupy a newly constructed, built-to-suit, 7,725-square foot square foot property situated on a 0.89 acre parcel. The property is positioned as one of two outparcels to Walmart Supercenter, the other tenanted by a free standing Burger King. Kauffman Tire will operate under a new 20-year corporately guaranteed lease with (4) five year options. The property benefits from its highly visible location with multiple points of ingress and egress and high traffic exposure with counts in excess of 40,000 vehicles per day. Located across the street from the property are national tenants including: Aldi, Subway, PNC Bank, Family Dollar, McDonald’s, TJ Maxx, Dollar Tree, Denny’s and Mattress Firm.
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.