June 17, 2020 – Robert Horvath, Todd Tremblay & Matt Nadler of Horvath & Tremblay have successfully completed the sale of the Goddard School in Fairfield, Connecticut. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $4,875,000, which translates to a 6.97% Cap Rate.
The Goddard School is located at 1280 Stratfield Road in Fairfield, Connecticut. The stand-alone building, completely gut-renovated in 2019, was a custom build-to-suit for the Goddard School, and consists of 10,000 square feet on 0.90 acres of land. The Goddard School has signed a new 15-Year Modified Triple-Net Lease with two, 5-Year Options. The lease features scheduled increases throughout both the current term and the option periods. The Goddard School is strategically located on CT Route 59, a highly travelled roadway in one of the wealthiest counties in the country. There are more than 252,000 residents within a 5-mile radius of the Property with an average household income over $102,000. Additionally, the property is just minutes from three major area highways (CT Routes 15 and 8, and I-95) which provides convenient access for a larger pool of students. The Goddard School is familiar with the local market as this is their third (3rd) location in Fairfield County.
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.