November 18, 2019 – Jeremy Black and Matthew Nadler of Horvath & Tremblay have successfully completed the sale of Denny’s in West Haven, Connecticut. Horvath & Tremblay exclusively represented the seller and procured the buyer to closed the Property at a sale price of $1,850,000, a 5.41% cap rate.
Denny’s is located at 487 Saw Mill Road in West Haven. The stand-alone building contains 5,462 square feet. Denny’s recently elected to extend their lease term early; they now have 14+ years of term remaining plus one 10-Year renewal option. The lease calls for 10% rent increases every five years. The property is extremely well located at the signalized intersection of the Exit 42 on/off ramp for Interstate-95. Saw Mill road is a primary thoroughfare connecting downtown West Haven, and US Route 1 in Orange, CT. Additionally, Denny’s is just seconds away from the West Haven Train Station along Metro North, with direct service to New Haven and Grand Central Station. The immediate area is home to numerous national retailers and enjoys close proximity to US Route 1and I-95. This location benefits from strong demographics and very high traffic counts.
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.