February 4, 2021 – Aaron Huntley, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of CVS Pharmacy in Granby, Massachusetts. Horvath & Tremblay exclusively represented the seller in this transaction at a sale price of $2,922,600, a 5.13% Cap Rate.
CVS Pharmacy is located at 70 W State Street in Granby, Massachusetts. Built in 2012, CVS signed a 20-year ground lease (Absolute NNN) that currently has 11+ years of term remaining and is followed by six, 5-year renewal options. The lease features rare rental increases every five years throughout the base term and the renewal options. CVS is situated on a corner parcel at the signalized intersection of West State Street and Pleasant Street, in the center of Granby. The property benefits from outstanding visibility and two points of access on West State Street and Pleasant Street. West State Street (US Route 202) is the primary roadway serving Granby and connects the area to Interstates 90 and 91 to the west in Chicopee. Pleasant Street connects Granby with nearby South Hadley and Mount Holyoke College. This CVS is the only national pharmacy serving Granby and South Hadley, MA.
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.