November 21, 2016 – Bob Horvath and Todd Tremblay and Peter Butler, of Horvath & Tremblay, have successfully completed the sale of the leasehold interest of TD Bank located in East Islip, New York. Horvath & Tremblay exclusively represented the seller and procured the buyer to close the property at a sale price of $1,543,860. The broker of record for the transaction was LLD Enterprises, LLC.
The TD Bank lease-hold interest has over 17 years of remaining base term and (4) five year options. TD Bank signed the original twenty-year ground lease in April 2012 which includes (4) five year options with rental escalations of ten percent (10%) scheduled to occur every five years throughout the base term and the options. The 2,943-square foot property is located at the signalized corner of West Main Street and Woodland Drive on a 1.66 acre parcel. This TD Bank branch offers customers the convenience of a triple drive-thru and a drive-up ATM. TD Bank is well positioned at a highly visible location with direct street frontage along West Main Street and is easily accessible directly off of HeckschervState Parkway. The property is positioned adjacent to a Citgo Gas station and across the street from CVS Plaza, a 31,808-square foot shopping center anchored by CVS and includes Ace Hardware and Dunkin’ Donuts. Additional retailers in the immediate area include: Boston Market, Benjamin Moore, 7-Eleven, and Friendly’s.
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.