July 11, 2018 – Bob Horvath and Aaron Huntley Horvath & Tremblay have successfully completed the sale of a free standing Little Sprouts daycare facility in Merrimack, New Hampshire. Horvath & Tremblay represented the seller and procured the buyer in the transaction to close the property at a sale price of $2,290,000.
Spanning more than 9,600 square feet, the school boasts multiple classrooms and a spacious indoor recreation room that serve children from infant age to preschool. The Property also features a private, 5,000 square foot outdoor playground. Little Sprouts recently executed a 15-year net lease with a 12.5% rent increase at the start of lease year 11. The tenant also has 3, five-year renewal options at market rent following the initial lease term.
The Little Sprouts property sits on one of the busiest commercial roadways in New Hampshire at the signalized intersection of Amherst Street (Route 101A) and Continental Boulevard in Merrimack. The Property is strategically located to provide a convenient location and easy access for both area residents and commuting families. It is located near the town lines of neighboring Nashua and Amherst, providing an excellent client base of approximately 65,200 people living within a five-mile radius with an average household income of over $106,000. The Little Sprouts location also benefits from its proximity to a large employment base and numerous large corporate employers including Fidelity, Southern New Hampshire Medical Center, Lockheed Martin, Connection IT, Delta Education, Harris Corporation, Flir Systems, Amphenol Corporation and a US Postal Service distribution center. Prominent retailers drawing people to the immediate area include Walmart, Target, Home Depot, Lowe’s Home Improvement, TJ Maxx, Marshalls, HomeGoods, Big Lots, Market Basket, CVS, Walgreens, Petco, and Planet Fitness just to name a few. An excellent vehicle count, of over 38,000 vehicles, pass the Property daily on Amherst Street (Route 101A).
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.