September 13, 2017 – Bob Horvath, Todd Tremblay and Peter Butler of Horvath & Tremblay have successfully completed the sale of CVS in New Haven, Connecticut. Horvath & Tremblay represented the seller and procured the buyer to close the property at a sale price of $9,950,000, a 4.6% cap rate.
The newly constructed CVS is located along Whalley Avenue in New Haven. CVS fully occupies the building and operates under a new corporately guaranteed lease. The property benefits from its direct street frontage and experiences strong traffic counts in excess of 27,600 vehicles per day. The Property is well-located off exit 59 of Connecticut Route 15. Located less than 0.5 miles away is Amity Shopping Center, a 177,863-square foot shopping center that encompasses a total of 14.5 acres and is the premier shopping center of Amity Village. Amity Shopping Center is anchored by Stop & Shop as well as Planet Fitness. Additional tenants in the center include: AT&T Wireless, Payless Shoes, MetroPCS, Kumon, Dollar Tree, Stop & Shop Gas, Bank of America, and People’s United Bank. Additional national tenants in the local area include: Five Guys, Walgreens, Dunkin’ Donuts, Burger King, Meineke Car Care Center and McDonald’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.