June 14, 2021 – Mark Brockwell and Matt Nadler of Horvath & Tremblay have successfully completed the sale of DaVita Kidney Care in Norwalk, Connecticut. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $7,675,000.
DaVita Kidney Care is located at 666 West Avenue in Norwalk, Connecticut. Redeveloped in 2020, the free-standing medical office building has a gross leasable area of 14,400 square feet and sits on a 0.80-acre parcel. DaVita occupies 12,000 square feet and has a new 15-year Double Net Lease with three (3), 5-year renewal options. The remaining 2,400 square feet is leased to Belpointe for 5-Years. The property is extremely well located in the center of Norwalk. 666 West Avenue is situated in between CVS and Dunkin’, at a signalized intersection along a busy commercial corridor with outstanding access to US Route 1, US Route 7 and Interstate 95. Additionally, the property is ½-mile from the Norwalk Hospital, the largest hospital in southwestern Connecticut. The Property is anticipated to benefit from the nearby, rapidly redeveloping West Avenue corridor in Downtown Norwalk. Recent large-scale developments in the immediate neighborhood, including The Curb Apartments (750+ luxury apartments), The Waypointe Apartments, The Berkeley, Quincy Lofts, and Avalon Norwalk have brought much needed activity to the Downtown area, including new restaurants, shopping and pedestrian-friendly street-life. The property is situated in an outstanding market with exceptional area demographics; over 137,100 people live within a 5-mile radius of the Property with an average household income of $196,772.
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.