December 4, 2017 – Matthew Nadler, Bob Horvath, and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of the Stop & Shop Gas, Munro Muffler and 99 Restaurant in Wallingford, Connecticut. Horvath & Tremblay represented the seller and procured the buyer to close the property for a sale price of $3,135,000.
The Ninety Nine Restaurant, Stop & Shop Gas and Monro Muffler Brake & Service are situated on a combined 2.91 Acre lot in front of a Stop & Shop anchored retail center. All three tenants operate on shorter term leases with low rents. The site is strategically positioned along North Colony Road providing ample visibility and convenient access to the nearly 21,000 vehicles that pass the site daily. The Property is also located less than one mile south of Wilbur Cross Parkway with traffic counts in excess of 59,400 vehicles per day. North Colony Road serves as a main retail corridor with numerous national retailers including: TD Bank, Sherwin-Williams, Cumberland Farms, Starbucks, AT&T, Burger King, Advance Auto Parts, CVS, Shop Rite, Dunkin’ Donuts and Walmart. The Site is located within Wallingford’s dominant retail and commercial corridor consisting of approximately 3.5 million square feet of retail, 6.6 million square feet of industrial, 2.3 million square feet of office space and 1,936 multifamily units within a 3-mile radius.
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.