January 24, 2020 – Bob Horvath, Todd Tremblay and Luke Thomson of Horvath & Tremblay have successfully completed the sale of Family Dollar in Cranston, Rhode Island. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,506,850.
Family Dollar is located at 480 Atwood Avenue (Route 5) in Cranston, RI. Family Dollar took possession of the premises and executed their ten-year corporate lease in June 2019. The property, which was previously the home of a competing dollar store, was completely renovated and expanded for Family Dollar. Family Dollar has 9 years remaining on a corporate guaranteed, double net (NN) lease with six 5-year renewal options. The lease calls for a 5.0% increases every five years throughout the base term and option periods. The property is located on a primary 4-lane artery in Cranston. The location offers access to exceptional demographics, high traffic counts and a convenient location for the densely populated city of 81,000 residents.
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.