BeverlyRetailPlaza_BeverlyMA

September 28, 2018 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of a neighborhood retail plaza in Beverly, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to close the transaction at a sale price of $3,925,000.

Beverly Retail Plaza is currently 92.6% occupied with a mix of local and national tenants including Dunkin’ Donuts and Sunoco-branded fuel pumps operated by North Beverly Food Mart. The neighborhood plaza contains 7-units in 9,460 rentable square feet of street-level retail space plus 4,348 square feet of lower level storage, office and mechanical space. The property is strategically located at a busy six-road intersection approximately 100 yards from the on/off ramps to Route 128 with high traffic exposure to over 28,000 vehicles per day.

According to principal Paul J Herrick of Dodge Street Realty Partners, LLC, “Horvath & Tremblay exceeded our expectations and delivered a very high-quality buyer that delivered on their representations. This property had reached our investment goals and we chose Bob to market our property due to his expertise in the sale of properties with fuel tenants as well as his ability to reach the targeted buyer pool.” The buyer, Robert Dana, Dodge St. Holdings, LLC, a customer of Horvath & Tremblay, with advice from consultant and property manager Jay Goldberg of Spire Investments, LLC, purchased the property as a long-term investment.

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.