May 25, 2017 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of the ground lease to Burger King in Lawrence, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured buyer to close the property at a sale price of $1,565,000, a 6.19% cap rate.
Burger King has over 9 years remaining on the original 15-year ground lease with six, five year options. Located in the Heart of Lawrence, the property is well positioned at a highly visible location with direct street frontage along the main thoroughfare in Lawrence, Broadway (Route 28). The property is easily accessible off of Interstate 93 and Interstate 495. Burger King benefits from its location in a densely populated area with a population base of over 188,000 people within a 5-mile radius. The property is also located in close proximity to nearby national tenants including: McDonald’s, CVS, AutoZone, Santander Bank, Speedway, Dunkin’ Donuts, Eastern Bank, TD Bank, and Wendy’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.