January 31, 2018 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Family Dollar in Providence, Rhode Island. Horvath & Tremblay represented the seller to close the property for a sale price of $1,619,718.
Family Dollar fully occupies a free standing, newly constructed 9,180-square foot property located along Branch Avenue. Family Dollar has executed a new, 10-year, double-net (NN) lease that includes two, five-year renewal options. Attractive rent escalations of 12.5% occur every five years in both the initial term and renewal terms. The property is located in the densely populated Wanskuck neighborhood, on the north side of Providence, near the Shaw’s anchored, North Providence
Marketplace. With a population of approximately 180,000, Providence is the most populous city in Rhode Island and the third most populous in New England after Boston and Worcester. This newly constructed, free-standing Family Dollar provides an attractive combination of long-term lease, escalating rent, excellent credit and a growing market concept, that continues to capture new value-conscious shoppers, set in a densely populated urban infill location.
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.