February 13, 2020 – Bob Horvath, Todd Tremblay and Matt Nadler of Horvath & Tremblay have successfully completed the sale of Santander Bank in Holliston, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,055,000, a 6.16% cap rate.
The Santander Bank building is located at 818 Washington Street (Route 16) in Holliston, MA. The stand-alone stone building is located at the hard-corner intersection of Washington Street and Exchange Street on a highly visible parcel in the heart of Holliston Center. The property features two points of access and has a drive-thru. Santander Bank recently signed a new absolute triple net lease that extends through June 2025 with five, 5-year renewal options, each of which includes 10% rent escalations. Holliston is an affluent town in the MetroWest region of Massachusetts, the area demographics feature more than 70,000 people living within a five-mile radius with an average household income in excess of $155,000. Additionally, Santander Bank is based in Boston; its principal market is the northeastern United States.
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.