June 25, 2019 – Todd Tremblay, Bob Horvath and RJ Tuller of Horvath & Tremblay have successfully completed the sale of Fresenius Medical Center in Fairhaven, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer in the transaction that closed at a sale price of $4,080,000, a 6.0% cap rate.
Constructed in 2015, the free-standing medical office Property has a gross leasable area of 10,380 square feet and sits on a 2.27-acre parcel. The corporate guaranteed lease has 12 years of term remaining, plus three (3), 5-year renewal options. Annual rental escalations of 1.7% are scheduled in the current term and option periods. The Property shares a shopping center with two stand-alone properties – Walgreens and Frontera Grill. Fresenius is strategically located at the junction of primary highways US Route 6 and MA Route 240. Additional retailers drawing consumers to the trade area include: Super Stop & Shop, Walmart, Staples, Marshalls, Rocky’s Ace Hardware, Town Fair Tire, AutoZone, 99 Restaurant, McDonald’s, Burger King, Wendy’s, and Taco Bell.
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.