March 19, 2018 – Matthew Nadler of Horvath & Tremblay has successfully completed the sale of Pep Boys in Irwin, Pennsylvania. Horvath & Tremblay exclusively represented the seller and procured the buyer to close the property for a sale price of $1,360,000.
Constructed as a build-to-suit for Pep Boys in 2015, the 5,546-square foot building is located on an outparcel at the Norwin Town Square shopping center. The property benefits from its highly trafficked and easily accessible location along the regions primary retail corridor. Driving consumer traffic to the area are additional prominent retailers including Shop ‘N Save, Planet Fitness, McDonald’s, MedExpress, Dollar Tree, and Rite Aid.
Pep Boy’s operates under a corporate guaranteed, double net lease that has over seven years remaining plus three, five-year renewal options. Attractive rental escalations are scheduled in the base term as well as at the beginning of the first two 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.