December 29, 2020 – Bob Horvath of Horvath & Tremblay has successfully completed the sale of the Retail Center in Somersworth, New Hampshire. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,572,500.
The Retail Center is located at 475 High Street in Somersworth, New Hampshire. Constructed in 2008, the retail center sits on a 1.90-acre parcel of land and is home to six (6) tenants. All six of the tenants have net leases, and both Las Palmas Mexican Grill and Professional Physical Therapy, the two largest tenants, have long term lease in place with scheduled rent increases. The remaining tenants include Priceless Floors, Elements Massage, Route 9 Vapors and The New Place Nails. The retail center at 475 High Street is located in a high traffic retail corridor along NH Route 9 in the beautiful New Hampshire seacoast-corridor town of Somersworth. The retail center is located adjacent to the Tri-City Plaza, a Market Basket, TJ Maxx and Staples anchored shopping center and is also within half a mile of Home Depot, Target and Walmart. Additionally, the retail center offers excellent frontage and visibility along Route 9 and benefits from two means of entry and egress. Since its construction in 2008, the property has been meticulously maintained. The plaza benefits from excellent parking, signage and mature trees and shrubs lining the property.
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.