September 1, 2017 – Aaron Huntley of Horvath & Tremblay has successfully completed the sale of Bank of America in Hooksett, New Hampshire. Horvath & Tremblay exclusively represented the seller and procured the buyer to close the property at a sale price of $1,022,000.
Bank of America fully occupies the 2,964-square foot building located at the signaled intersection of Hooksett Road and West Alice Avenue with good traffic counts, excellent visibility and multiple points of access. The single story property includes two drive-thru teller and ATM lanes and offers ample parking. This is a well-established bank location having been occupied by Bank of America since 1991. The current lease term has over five years remaining plus three, 5-year automatic renewal options. Both the lease term and renewal options have 3% annual rent escalations offering the investor fixed, predictable, income increases throughout the foreseeable future. Located in close proximity to Bank of America is Southern New Hampshire University with an enrollment of 3,100 full-time students. Southern New Hampshire University recently gained approval to begin construction on a $30M dollar athletic complex that is directly accessible from Hooksett Road where the subject property is located. As part of this expansion Southern New Hampshire University has completed road expansion on W Alice Avenue which leads directly to the rapidly expanding campus.
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.