May 3, 2017 – Peter Butler of Horvath & Tremblay has successfully completed the sale of Taco Bell and Pizza Hut in West Springfield, Massachusetts. Horvath & Tremblay procured buyer to close the property at a sale price of $1,637,000, a 5.65% cap rate.
The 2,108-square foot property is fully leased to Taco Bell/Pizza Hut who signed a brand new 20-year lease that commenced at the close of escrow. There are 10% rental increases scheduled every five years throughout the base term of the lease and at the beginning of each of the six, five-year options. This Taco Bell/Pizza Hut location is operated by the franchisee G.F. Enterprise LLC, a 28-unit YUM! operator with Taco Bells, Pizza Hut/Taco Bells, and KFC locations throughout the northeast. The subject property is well-positioned in a dense retail corridor, benefitting from its proximity to major national and local retailers. Major national retailers in the area include: McDonald’s, Subway, Dunkin’ Donuts, Family Dollar, Big Lots, CVS Pharmacy, Price Rite, T.J. Maxx, as well as many others. Three miles north, tenants include: The Home Depot, Costco Wholesale, Kohl’s, Olive Garden and KFC.
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.