June 28, 2019 – Todd Tremblay and Bob Horvath of Horvath & Tremblay have successfully completed the sale of CVS in Brockton, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer in the transaction that closed at a sale price of $8,846,000, a 5.25% cap rate.
CVS, located at 1267 Main Street, was constructed in 2016 as a relocation store for CVS from a smaller footprint store less than one mile away. CVS has a 30-year operating history in the immediate area. The highly visibly parcel is strategically located at the signalized intersection of Main Street at Plain Street and Keith Avenue. CVS has over 23 years term remaining on the lease plus five, 5-year renewal options which include a fixed rent increase at the start of each option period. The Property benefits from its location within a densely populated section of Brockton with over 86,000 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.