October 1, 2020 –Todd Tremblay, Bob Horvath and Matt Nadler of Horvath & Tremblay have successfully completed the sale of Santander Bank in Norwood, Massachusetts. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,900,000.
The Santander Bank building is located at 153 Nahatan Street in Norwood, MA. The stand-alone brick and stone building is located at the signalized intersection of Nahatan Street and Broadway on a highly visible 0.47-acre parcel in the heart of Norwood Center. The property features two points of access and has a double drive-thru lane and ample parking. Santander Bank recently signed a new Absolute Triple Net lease that extends through June 2025 with five, 5-year renewal options, each of which includes 10% rent escalations. Norwood is higher-demographic bedroom community and suburb of Boston. The area demographics feature more than 124,000+ people living within a five-mile radius with an average household income in excess of $148,000. Additionally, Santander Bank is based in Boston; its principal market is the northeastern United States.
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.