December 31, 2019 – Robert Horvath, Todd Tremblay and Brad Canova of Horvath & Tremblay have successfully completed the sale of Family Dollar in West Warwick, Rhode Island. Horvath & Tremblay exclusively represented both the seller and the buyer to complete the transaction at a sale price of $1,685,000.
Family Dollar is located at 989 Main Street in West Warwick. Construction of the Property was recently completed and the 10-year lease commenced in 2018. The Family Dollar lease has 8+ years of term remaining plus seven, 5-year renewal options. The lease calls for a 10% rent increase at the start of lease year 6 and a 5.0% rent increase at the start of each option period. The Family Dollar lease is corporate guaranteed. The Property is located on a land assemblage at the corner of “main and main” in downtown West Warwick providing convenient access for residents of West Warwick, a town of 29,000 residents.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in 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.