September 4, 2020 – Bob Horvath, Todd Tremblay and Hobart Hare of Horvath & Tremblay have successfully completed the sale of a multi-tenant retail center in Ware, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,125,000.
The retail center is located at 139 West Street in Ware, Massachusetts. The center is 100% leased to Dollar General, Dunkin Donuts, Subway and Great Clips. The property consists of 18,000 square feet on a 1.73-acre lot. The center has excellent visibility and three points of access. Dollar General anchors the center and has a new 10-year net lease with four, 5-year options, each with 10% rent increases. Dunkin Donuts has been in this center since 1997, and recently extended their lease term through July of 2032. The lease features rent increases every 5-years throughout its base term and option periods. Subway has been in this center since 2013 and has 2-years remaining on their lease with two, 5-year options. The property is well located along Massachusetts Route 32, the main retail corridor in Ware, which features prominent national tenants and goes through Ware’s downtown.
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.