January 25, 2019 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Morrisville Plaza in Morrisville, Vermont. Horvath & Tremblay exclusively represented the seller and procured the buyer in the transaction that closed at a sale price of $8,750,000.
Morrisville Plaza includes 104,178 square feet of gross leasable area, including two ground leases to McDonald’s and People’s United Bank. Morrisville Plaza boasts a diverse mix of national, regional and local tenants that serve the residents of Lamoille County, Vermont. The site itself offers excellent visibility and signage, multiple points of access and ample parking. The Property benefits from its location adjacent to a Price Chopper grocery store and across Route 15 from Tractor Supply Company. Morrisville Plaza sits at the center of the main commercial district in Lamoille County in north-central Vermont. Additional retailers drawing consumers to the area include CVS, Agway, Hannaford Supermarket, Country Home Center, Aubuchon Hardware, O’Reilly Auto Parts, NAPA Auto Parts and Dunkin’ Donuts. Additionally, the trade area should expect to benefit from the 2017 acquisition of Stowe Mountain Resort, an important economic driver in the area, by Vail Resorts.
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.