September 4, 2020 – Brendan Conway of Horvath & Tremblay has successfully completed the sale of the Darben Plaza in Marion, Kentucky. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,000,000.
Darben Plaza is located at 301-307 Sturgis Road in Marion, Kentucky. The plaza is 100% leased to four tenants – CVS Pharmacy, Dollar Tree, Los Agaves Mexican Restaurant and Askew Industrial. The four-tenant plaza consists of 25,721 square feet on a 3.39 acre corner lot. Both CVS and Dollar Tree have been in the plaza since it was constructed in 1983. CVS does exceptionally well at this location, as it is the only national pharmacy in the area. Additionally, the property is anchored by a Food Giant Grocery Store (not included in the sale), the only full-sized national grocery store serving the town of Marion and surrounding farm communities. This geographic monopoly combined with the low in-place rental rates at the plaza suggests the continued success and long-term occupancy at the property. Darben Plaza is well-located on Sturgis Road (US Route 60), a primary roadway through Marion, a town of 3,000 residents and the county seat of Crittenden County in Western Kentucky.
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.