April 11, 2017 – Jeremy Black, of Horvath & Tremblay, has successfully completed the sale of Citizens Bank in University Heights, Ohio. Horvath & Tremblay procured the buyer to close the property at a sale price of $1,920,000.

Citizens Bank fully occupies the 2,550-square foot property situated at the signalized, hard corner intersection of Warrensville Center Road and Cedar Road with excellent visibility and traffic counts in excess of 36,800 combined vehicles per day. The property is located in along main retail corridor and is positioned directly across from Whole Foods Market and adjacent to Macy’s. Additional tenants in the immediate area include: Applebee’s, T.J. Maxx, Target, Verizon Wireless, Key Bank, McDonald’s, Walgreens, Starbucks, and Mattress Firm. Citizens Bank has shown commitment to this location by recently extending their lease early by five years and now has nearly seven years remaining in their current lease term. Citizens Bank operates under a triple net lease with zero landlord responsibility. The property is located in a densely populated trade area with a population of nearly 325,000 within a five-mile radius.

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.