December 11, 2018 – Bob Horvath, Todd Tremblay and Brad Canova of Horvath & Tremblay have successfully completed the sale of CVS in Franklin, Massachusetts. Horvath & Tremblay procured the 1031 exchange buyer in the transaction that closed at a sale price of $6,943,519, a 5.39% cap rate.
CVS fully occupies the 10,125-square foot property located at 435 West Central Street. The site was built to suit for CVS who has operated at this location since the completion of construction in 1999. CVS recently extended their lease early showing commitment to this location. As a result, there are over 20 years remaining on the triple net lease. The Property is well-located in the heart of downtown Franklin and benefits from its close proximity to numerous national and regional tenants including: Stop & Shop, Shaw’s, Marshall, Panera, Starbucks, Chipotle, Wendy’s, 7-Eleven, Taco Bell, AutoZone, Burger King and numerous other retailers.
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.