January 22, 2019 – Bob Horvath, Todd Tremblay and Brad Canova of Horvath & Tremblay have successfully completed the sale of 151 Andover Street in Danvers, Massachusetts. Horvath & Tremblay procured the 1031 exchange buyer to close the transaction at a sale price of $12,600,000.
The 27,580 square foot retail building is 100% leased to four automotive tenants including Kelly European Motors, Danvers Auto Engineering, Enterprise Rent-A-Car and National Tire and Battery who has anchored this retail center since 1983. The Property is strategically located on an outparcel to Lowe’s and is surrounded by additional national tenants including: McDonald’s, Olive Garden, Walmart, Dunkin’ Donuts, CarMax, PetSmart and many others. The Property benefits from its highly visible location and direct street frontage on Andover Street (Route 114) which boasts traffic counts in excess of 47,000 vehicles per day.
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.