November 30, 2017 – Kyle Danielson, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Applebee’s in Lynchburg, Virginia. Horvath & Tremblay procured the buyer in the transaction to close the property at a sale price of $2,000,000.
Applebee’s fully occupies a 4,034-square foot building located along Chandlers Mountain Road and is adjacent to Chandlers Station, a large open aired shopping center with tenants including Staples, Dollar Tree, Party City, Toys R Us and Hardees. The Property is also across the street from the River Ridge Mall and Liberty University.
Applebee’s operates under a new 20-year triple net lease with four, 5-year option periods with fixed rental increases throughout the base term of the lease and option periods.
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.