July 14, 2017 – Bob Horvath, Todd Tremblay and Peter Butler of Horvath & Tremblay have successfully completed the sale of Walgreens Plaza in West Warwick, RI. Horvath & Tremblay exclusively represented the seller and procured the buyer to close the property at a sale price of $6,650,000.
Walgreens occupies a 14,820-square foot building on a 2.41 acre parcel located on Cowesett Avenue in West Warwick. Walgreens signed a 25-year triple net lease in 2007 with options through 2082. In addition there is an additional 5,650-square feet of retail space, of which 1,758 square feet is leased to RJ Nails & Spa with potential upside in the leasing of the remaining space. The property is strategically located at the signalized intersection of Main Street and Cowesett Avenue with two dedicated means of ingress and egress. Regional tenants in the area include: CVS, Domino’s Pizza, Family Dollar, Aaron’s and H&R Block.
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.