May 31, 2018 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of ConvenientMD in Westbrook, Maine. Horvath & Tremblay represented the seller and procured the buyer to close the property at a sale price of $4,250,000, a 6.49% cap rate.
ConvenientMD fully occupies a newly constructed, built-to-suit, 5,000-square foot building located along Main Street in Westbrook. The building was delivered to the tenant in the fourth quarter of 2017 and the initial, triple-net, lease has 19 years and 9 months remaining plus the option for six, 5-year renewal options. The Property is located in downtown Westbrook on a 0.76-acre parcel, approximately 2.5 miles from Interstate-95. ConveinentMD is one of numerous national tenants in the area including: Family Dollar, CBS, Bank of America, True Value, Dunkin’ Donuts, Cumberland Farms, and Sullivan Tire.
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.