February 25, 2021 – Robert Horvath, Dan Bernardini and Aaron Huntley of Horvath & Tremblay have successfully completed the sale of Citizens Bank in Concord, New Hampshire. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,600,000.
Citizens Bank is located at 188 Loudon Road in Concord, New Hampshire. Citizens Bank recently exercised a five-year renewal option, giving them 6 years remaining on a triple-net lease with 3% annual increases and one five-year renewal option remaining. Citizens Bank is strategically located in a single tenant building consisting of 2,328 square feet on Loudon Road, the primary commercial corridor in Concord. The property benefits from a large 1.91-acre lot that features excellent frontage and visibility along NH Route 9 with two points of access, four drive-thru lanes including a drive-up ATM, and 40 dedicated parking spaces. Citizens Bank has occupied this location since 1995. This is a high-performing location with deposits of $86.88 million. The property benefits from strong area demographics with over 43,300 people living within a 5-mile radius of the property with an average household income in excess of $91,000.
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.