January 17, 2020 – Bob Horvath, Todd Tremblay and Aaron Huntley of Horvath & Tremblay have successfully completed the sale of the Elm Street Shops in Pittsfield, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,950,000.
The Elm Street Shops are located at 180 Elm Street in Pittsfield, MA. The plaza, which is historically 100% leased is anchored by a well-established Rite Aid/Walgreens that has been at the property since its construction in 1983. The Elm Street Shops contain 17,721 square feet of gross leasable area on a 1.8 acre parcel. Rite Aid/Walgreens demonstrated their commitment to this location by extending their lease for a 5-year term taking them through November 2023. The Elm Street Shops have also benefited from significant capital improvements in the past few years with a new roof, new rooftop HVAC units, and a new parking lot.
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.