November 15, 2019 – Matthew Nadler and Luke Thomson of Horvath & Tremblay have successfully completed the sale of Harbor Freight Tools in Southaven, Mississippi. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,010,769.
Harbor Freight Tools is located at 725 Goodman Road in Southaven. The stand-alone building is an outparcel to a grocery anchored shopping center and consists of 12,000 square feet and sits on a 1.716-acre lot. Harbor Freight Tools has 10 years remaining on their NN lease with five, 5-year renewal options. The lease calls for a 5.0% rent increases in each of the option periods. The property is well located along Goodman Road, which is the primary corridor in Southaven and is surrounded by national retailers. Additionally, Harbor Freight Tools benefits from outstanding traffic counts with more than 39,000 vehicles per day along Goodman Road.
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.