June 27, 2019 – Bob Horvath, Todd Tremblay and Brad Canova of Horvath & Tremblay have successfully completed the sale of TGI Friday’s in Manchester, Connecticut. Horvath & Tremblay procured the 1031 exchange buyer in the transaction that closed at a sale price of $3,675,000.
TGI Friday’s fully occupies a 7,732-square foot building located at 209 Hale Road in Manchester. TGI Friday’s signed a new 15-year lease at the close of escrow which includes eight, 5-year options and attractive annual rental escalations of 1.5%. The lease is structured as triple net, with zero landlord responsibilities. The Property is located along a dense retail corridor with numerous national tenants drawing consumers to the area such as: Lowe’s, Hobby Lobby, Home Depot, Sam’s Club, Target, Sears, Dick’s Sporting Goods, Walmart, Best Buy, Marshalls, Walgreens, Starbucks, Panera, IHOP and many others.
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.