November 6, 2019 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Marshalls/HomeGoods Plaza in Wethersfield, Connecticut. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $13,000,000.
Marshalls/HomeGoods Plaza is located along on Silas Deane Highway (Route 99) and includes 75,893 square feet of gross leasable area on a 6.66-acre lot with excellent frontage along a heavily travelled retail corridor at Exit 24 on Interstate 91. The Property is anchored by Marshalls/HomeGoods and includes junior anchor Pet Supplies Plus, Bevmax Superstore and Pasta Vita Gourmet to Go. Marshall’s has been located at this location for over 40 years. It is one of their more successful stores in New England. Marshalls recently reconfirmed their commitment to the location by extending their lease through January 2028 and performing a major interior renovation of the store. The TJX Companies, the corporate parent of Marshall’s and HomeGood’s, boasts an A+ credit rating (S&P).
The Property’s site offers excellent signage, multiple points of access, ample parking and benefits from its location adjacent to a Walgreens. Additional notable retailers drawing consumers to the area include: CVS, T.J. Maxx, Bed Bath & Beyond, Walmart, Stop & Shop, Planet Fitness, Starbucks, Panera Bread, Denny’s, Red Lobster, Wendy’s, Kohl’s, Aldi’s, Chips, and the Hartford HealthCare Medical Group Outpatient Center.
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.