January 26, 2018 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of the multi-tenant medical office building located at 5750 Post Road in East Greenwich, Rhode Island. Horvath & Tremblay exclusively represented the seller and procured the buyer to close the property for a sale price of $5,600,000.
Constructed in 2012, and set on a 2.13 acre site, the Class A Medical Office Building is currently leased to three medical tenants – Kent Hospital, Atmed Urgent Care Center and Performance Physical Therapy. All three tenants have been at the Property since its completion in 2012. Performance Physical Therapy recently signed a new lease to expand their space and extend their lease term for ten years. The Medical Office Building’s three leases are all Triple-Net (“NNN”). The Tenants are solely responsible for all CAM, taxes, insurance, utilities, HVAC, parking lot, roof and structural repairs and maintenance. The property is located on the highly trafficked Post Road (US-1) within three-miles of both Route 4 and I-95, the regions two primary highways.
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.