October 5, 2016 – Horvath & Tremblay have successfully brokered the sale of Dodge Crossing in Beverly, Massachusetts. Wayne Clough, managing director, of Fantini & Gorga, assisted in completing the sale as Horvath & Tremblay represented the seller and procured the buyers for each property. Dodge Crossing located along Enon Street in Beverly closed at a sale price of $4.15 million.
Occupying over 30,100-square feet of retail frontage along Enon Street is Dodge Crossing. The property is anchored by Sleepy’s with additional tenants including: Learning Express Toys, Mathnasium, Triad Driving Academy, Art Supplies Wholesale, Sportsman’s Barber, Cape Ann Center for Dance, Innersource, Active Healing and Hong Kong Cafe. In addition, there is 1,200-square feet of leased office space. Dodge Crossing is located at Exit 20A off of the heavily traveled Route 128 corridor – a major commuter route to Boston and the primary artery connecting commuters to Interstate 95. Traffic counts along Route 128 are in excess of 235,000 vehicles per day and 27,800 vehicles per day along Dodge Street connecting to Enon Street. National retailers located along Enon Street include: Sprint, Bank of America, Bertucci’s, Starbucks, Speedway, McDonald’s, Stop & Shop, and Dunkin’ Donuts. Located down the street from the property is Commodore Plaza, a 43,018-square foot shopping center with national tenants including: Not Your Average Joe’s, Subway, Elements Massage, Fantastic Sam’s and Edible Arrangements. The Enon Street retail corridor caters to nearby residents and visitors of Beverly, as well as Hamilton and Wenham to the north and Manchester-by-the-sea to the east average household incomes of $141,929, $175,760, and $161,169 respectively.
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.