May 29, 2018 – Jeremy Black, Bob Horvath, Todd Tremblay and Matthew Nadler of Horvath & Tremblay have successfully completed the sale of the ground lease of Red Lobster in Uniontown, Pennsylvania. Horvath & Tremblay represented the seller to close the property at a sale price of $1,755,000.
Red Lobster has been in occupancy at this location along West Main Street since the property was constructed in 1992 and recently extended their lease term for ten years plus three, five-year renewal options with rental increases. The Property is strategically located on a corner pad site to the Uniontown Mall at the corner of Restaurant Row and West Main Street. The Uniontown Mall is a regional mall anchored by JC Penny, Bon Ton, Burlington Coat Factory and an AMC Movie Theater. The location offers easy access from multiple points of egress and excellent visibility along West Main Street in the heart of the areas primary retail trade area. The Property further benefits from its proximity to the heavily travelled Route 119, which is located just 0.2 miles from the Property and has traffic counts of over 33,000 vehicles per day. Additional prominent retailers in the immediate area include a Walmart Supercenter, Target, Home Depot, Lowe’s Home Improvement, Hobby Lobby, Michael’s, TJ Maxx, McDonald’s, Burger King, Olive Garden, Five Guys Burgers, Wendy’s and Chili’s.
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.