May 7, 2021 – Joe Desalvo and Hobart Hare of Horvath & Tremblay have successfully completed the sale of Safelite AutoGlass in Worcester, Massachusetts. Horvath & Tremblay exclusively represented the Seller and sourced the buyer to complete the transaction at a sale price of $994,748.
Safelite AutoGlass is located at 229 Park Avenue in Worcester, Massachusetts (the “Property”). Safelite AutoGlass signed a new, 10-year lease in 2015 that currently has over 4 years of term remaining and is followed by four (4), 5-year renewal options. The rent will be set to “Fair Market Rent” at the start of each renewal option. Safelite AutoGlass is situated on a corner parcel at the signalized intersection of Park Avenue and Elm Street, which sees more than 20,200 vehicles pass through the intersection each day. The property enjoys high visibility on Park Avenue, a primary north-south artery travelling through the densely populated city of Worcester. Worcester is the second-largest city in New England after Boston, and is home to nine colleges and universities that attract a large student population to the area.
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.