November 23, 2020 – Jeremy Black and Matt Nadler of Horvath & Tremblay have successfully completed the sale of a Bank of America in Clifton Park, New York. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $5,200,000.
Bank of America is located at 1 Clifton Country Road in Clifton Park, New York. The stand-alone building consists of 4,750 square feet and sits on a 1.0-acre corner lot with excellent visibility. Exhibiting their commitment to the location, Bank of America recently extended their triple-net lease for 10 years through November 2029 with two, 5-year renewal option remaining. The lease features variable rental increases every five years through the remaining term and remaining option periods. Bank of America is situated on a corner parcel at the signalized intersection of Clifton Country Road and New York State Route 146. The location is part of an exceptional trade area centered around the Route 146 and Interstate 87 junction, with numerous national tenants and retail centers drawing significant traffic to the area. Clifton Park is an affluent suburb of Albany approximately 12 miles north of the state capital.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in 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.