April 10, 2018 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of a free-standing TD Bank in Lexington, Massachusetts. Horvath & Tremblay represented the seller to close the property at a sale price of $6,975,000, a 4.51% cap rate.
The single tenant, net leased building was constructed as a build-to-suit for TD Bank in 2012. The Property sits on a 0.79-acre site at a signaled intersection with good traffic counts, excellent visibility and multiple points of access. The Property includes two drive-thru teller and ATM lanes and ample surface parking. The lease has 14+ years remaining on the original twenty-year lease plus four, 5-year renewal options. The property is strategically located within an affluent community of over 31,300 residents with an average household income of over $153,000 within three miles of the property.
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.