August 21, 2018 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Pilgrim Hill Marketplace in Plymouth, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to close the transaction at a sale price of $7,950,000.
Pilgrim Hill Marketplace is a 19,619-square foot retail center anchored by CVS. The property is currently 78% leased. CVS and The Pizza Factory are original tenants at Pilgrim Hill Marketplace and have been in occupancy for over 20 years. Both tenants recently executed five-year lease extensions, demonstrating their commitment to the location. This is a well-established store for CVS with consistently strong sales performance. The third tenant, Mutual Bank of Plymouth (“Mutual Bank”) has been at the property for over ten years and also recently executed a five-year extension.
Pilgrim Hill Marketplace maintains a highly visible location along a busy retail corridor only 0.3 miles from the Exit 6 cloverleaf interchange on Route 3, the primary highway from Boston to the south shore and Cape Cod. Vehicle traffic counts along Pilgrim Hill Road are in excess of 17,800 vehicles per day while traffic counts along Route 3 at Exit 6 are in excess of 59,700 vehicles per day. Additional prominent retailers in the trade area include Stop & Shop Supermarket, Shaw’s Supermarket, Walgreens, Staples, Sullivan Tire, Advance Auto Parts, Valvoline Instant Oil Change, Starbucks, Bank of America Financial Center, Dunkin Donuts, McDonald’s, Burger King, Comfort Inn and several prominent car dealerships.
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.