April 22, 2020 – Bob Horvath, Todd Tremblay and Matt Nadler of Horvath & Tremblay have successfully completed the sale of Santander Bank in Haverhill, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,640,625.
The Santander Bank building is located at 340 Main Street in Haverhill, MA. The stand-alone stone building is located on a highly-visible parcel in the mixed-use residential and commercial center of downtown Haverhill. The property features two points of access and has a double drive-thru lane and ample parking. 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. Haverhill is an affluent town in the Merrimack Valley along the I-495 corridor, approximately 35-miles north of Boston. The area demographics feature more than 98,000+ people living within a five-mile radius with an average household income in excess of $101,000. 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.