June 5, 2018 – Todd Tremblay and Bob Horvath of Horvath & Tremblay have successfully completed the sale of CVS in Johnston, Rhode Island. Horvath & Tremblay represented the seller and procured the buyer in the transaction to close the property at a sale price of $7,366,000, a 5.15% cap rate.
CVS fully occupies a 12,900-square foot building located along Putnam Pike in downtown Johnston. CVS signed the original 25-year, double net, lease in February 2011 which includes five, 5-year options. The Property benefits from its location at a signalized intersection with easy access to commuters traveling along Putnam Pike and Route 128. Nearby national tenants attracting shoppers to the area include: Dunkin’ Donuts, Walgreens, Burger King, Honey Dew Donuts, Cumberland Farms and Advance Auto Parts.
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.