December 14, 2018 – Todd Tremblay and Bob Horvath of Horvath & Tremblay have successfully completed the sale of Fairlawn Plaza in Pawtucket, Rhode Island. Horvath & Tremblay represented the seller and procured the buyer in the transaction that closed at a sale price of $4,730,342.
Located along Smithfield Avenue in Pawtucket, Fairlawn Plaza is a CVS and Family Dollar anchored shopping center that serves as the commercial center for the densely populated, predominantly residential, neighborhood of Fairlawn. The Property contains 24,285 rentable square feet on a 2.61-acre parcel with ample parking and multiple points of access at the intersection of the neighborhoods’ two primary roadways – Smithfield Ave (Route 126) and Weeden Street. CVS and Family Dollar represent 91% f the total revenue. The third tenant, Bill’s Pizza, is a local favorite and has been successfully operating at the site since 2007. The Property benefits from its position in a densely populated area with over 155,500 people within a 3-mile radius.
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.