April 16, 2019 – Bob Horvath, Todd Tremblay and Brad Canova of Horvath & Tremblay have successfully completed the sale of Red Lobster in Bridgeton, Missouri. Horvath & Tremblay represented the 1031 exchange buyer to close the transaction at a sale price of $5,330,000.
Red Lobster fully occupies a 8,534-square foot building located along Saint Charles Rock Road with direct street frontage. The Property is positioned in front of Target with nearby national tenants including: Walgreens, AutoZone, Mattress Firm, Applebee’s, Hobby Lobby, Kohl’s, Chipotle, PetSmart, Lowe’s, Best Buy, CVS and may others. Red Lobster has over 16 years remaining on the absolute triple net lease with scheduled annual rental escalations of 2%.
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.