June 9, 2017 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Walgreens in Wilmington, Massachusetts for $5,170,000. Horvath & Tremblay exclusively represented the seller and procured the buyer in the sale.
Walgreens formerly occupied the 15,466-square foot property located at 277 Main Street in Wilmington. The absolute triple net lease commenced in 2006 and has over ten years remaining on the original term. The lease is fully guaranteed by Walgreens Corporate who has $4,462,500 of remaining lease payments. The Property is located at a lighted intersection along the primary retail corridor, Main Street (Route 38). Main Street (Route 38) provides quick access to Interstate-93 less than 3 miles to the east and Interstate-95 less than 5 miles to the south. The retail location is easily accessible from the surrounding area and offers direct street frontage with good access and visibility in a high traffic retail corridor. Additional national retailers in the immediate area include: Market Basket, TJ Maxx, Panera Bread, Dunkin’ Donuts, Rite Aid, McDonald’s, TLE, Sonic, CVS Health, Cumberland Farms, Chili’s, Advance Auto Parts, People’s United Bank, Starbucks, Savers, Dollar Tree, Speedway, Santander Bank, Supercuts, Bank of America, Firestone, Jiffy Lube, and Shell.
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.