July 1, 2020 – Bob Horvath, Todd Tremblay and Aaron Huntley of Horvath & Tremblay have successfully completed the sale of Cumberland Farms in Brockton, Massachusetts. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $2,450,000, a 5.10% Cap Rate.
Cumberland Farms is located at 710 Oak Street in Brockton, MA. The stand-alone gas station and convenience store is located on a highly-visible parcel at the intersection of Oak Street and the heavily travelled Massachusetts Route 24. Route 24 serves as the primary access road for residents of Brockton traveling to Boston. The new construction property, is comprised of a 1.50 acre lot with 10 covered pumps and a 4,384 square foot convenience store. Cumberland Farms executed a 20-year Ground Lease. The lease features an attractive 10% increase in years 11 and 16 as well as at the start of each of their four, 5-year option periods. Brockton is located 20 miles south of Boston and benefits from strong demographics with more than 177,000 people living within a 5-miles radius with an average household income in excess of $91,000.
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.