May 28, 2021 – Bob Horvath, Todd Tremblay and Brad Canova of Horvath & Tremblay have successfully completed the sale of Christmas Tree Shops in Avon, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $3,875,000.
Christmas Tree Shops is a retail condominium located at 15 Stockwell Drive in Avon, Massachusetts. Christmas Tree Shops occupies a 35,528 square foot building, that is the anchor tenant to a larger retail center on an 8.78-acre parcel. In addition to Christmas Tree Shops, the center is home to a New Balance Factory Store, a single tenant Dunkin Donuts, and Party City. Christmas Tree Shops has been at this location since 1997, and recently executed both their first and second lease renewals. Christmas Tree Shops has 6 years remaining on their Triple Net Lease with four, 5-year renewal options. The lease features a rare 20% increase in the first renewal option, 10% increases in the second and third renewal options, and fair market rent in the fourth renewal option. The free-standing Property is located on Stockwell Drive, one of southeastern Massachusetts’ primary home store trade areas. Surrounding “Home Store” tenants include Home Depot, Ikea, Jordan’s Furniture, Floor & Décor, Costco, The Tile Shop, Blinds to Go, and Stone Showcase of New England. The property further benefits from impressive demographics with more than 191,500 people residing within 5-miles of the property with an average household income in excess of $101,000.
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.