September 20, 2018 – Aaron Huntley and Bob Horvath of Horvath & Tremblay have successfully completed the sale of the ground lease to Citizens Bank in Franklin, New Hampshire. Horvath & Tremblay exclusively represented the seller and procured the buyer to close the transaction at a sale price of $570,000.
Citizens Bank fully occupies a 1,344-square foot building situated on a .8-acre parcel located along Central Street in Franklin. The Property includes two entrances, one-way directional access and a drive-thru teller. The current lease term has 4+ years remaining plus one, 5-year renewal option. Both the current lease term and renewal term have 2.0% annual rent escalations offering the investor fixed, predictable, income increases throughout the lease term. The Property is located along the area’s primary retail corridor (Central Street/Route3) and has been occupied by Citizens Bank and its predecessor bank for over 31 years.
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.