February 28, 2017 – Bob Horvath and Todd Tremblay, of Horvath & Tremblay, has successfully completed the sale of CVS located in Brockton, Massachusetts. Horvath & Tremblay worked exclusively representing the seller and procuring the buyer to close the property at a sale price of $9,050,000, a cap rate of 5.13%.
CVS, located at 1267 Main Street in Brockton, will occupy a newly constructed 12,900-square foot building at the corner of Main Street and Clifton Avenue. CVS will operate under a new corporate guaranteed, 25-year triple net lease (NNN) with (5) five year options. The property features CVS’s latest prototype design and offers customers the convenience of a prescription drive-thru. CVS has a 30-year operating history in this market and elected to relocate to this site from its previous location less than a mile away. The property is strategically located with great visibility along Main Street, a primary local route of the city, and is easily accessible off of Route 24. National tenants in the area include: Big Lots, Family Dollar, Planet Fitness, Bank of America, KMart, H&R Block, Wendy’s, Public Storage, Cumberland Farms, Dunkin’ Donuts, AutoZone, and Speedway.
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.