March 16, 2017 – Jeremy Black, of Horvath & Tremblay, has successfully completed the sale of Hunting Bank in Florence, Kentucky. Horvath & Tremblay procured the buyer to close the property at a sale price of $1,948,305.
Huntington Bank fully occupies the 2,161-square foot property situated on a 2.2 acre parcel located in front of Walmart Supercenter along Houston Road. The property is strategically positioned within the main retail trade area of the Florence Submarket just off of Interstate 75 which boasts traffic counts in excess of 167,000 vehicles per day and along Houston Road with traffic counts in excess of 29,600 vehicles per day. This main retail corridor has strong national tenant representation with retailers including: IHOP, Logan’s Roadhouse, Kohl’s, Home Depot, Chick-fil-A, Best But, Michaels, Sam’s Club, Panera Bread, Buffalo Wild Wings, Chili’s and many others. Located within one mile of Huntington Bank is the Florence Mall with over 120 retailers. There are 10 years remaining on the original ground lease term with ten percent rental increases every five years. The lease is guaranteed by a top tier credit tenant that operates more than 1,000 branches and has over $72B in assets.
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.