May 27, 2021 – Bob Horvath, Todd Tremblay, and Luke Thomson of Horvath & Tremblay have successfully completed the sale of Family Dollar and O’Reilly Auto Parts in Woonsocket, Rhode Island. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $5,065,000.
Family Dollar and O’Reilly Auto Parts are located at 1099 Social Street in Woonsocket, Rhode Island. The new construction building was completed in 2021 and is comprised of 16,405 square feet and is situated on a 1.38-acre corner lot. The property sits at the signalized intersection of Social Street and Diamond Hill Road (RI Route 114), which is one of the area’s primary commercial corridors. Family Dollar has more than 9 years remaining on a double net lease with five (5), 5-year renewal options. The lease calls for scheduled rent increases at the start of each option period. O’Reilly Auto Parts has 14+ years remaining on a double net lease with five (5), 5-year renewal options. The O’Reilly Auto Parts lease has a 6% rent increase at the start of year 11 and at the start of each option period.
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.