June 24, 2021 – Bob Horvath, Todd Tremblay and Hobart Hare of Horvath & Tremblay have successfully completed the sale of Walgreens in Dudley, Massachusetts. Horvath & Tremblay procured the buyer to complete this transaction at a sale price of $8,300,000.
Walgreens is located at 25-29 West Main Street (MA Route 12) in Dudley, Massachusetts. Built as a prototype, free-standing store with drive-thru in 2010, the Property consists of 11,186 square feet on a 1.75-acre parcel at the primary intersection in Dudley. The Property was recently converted from Rite Aid to Walgreens, and the lease, which has over 10 years of term remaining, was assigned to Walgreen Eastern Co. The lease provides for 10% rent increases at the start of the first, third and fifth renewal options. The Property is located at the four-way signalized intersection of West Main Street, Schofield Avenue and Village Street on the most prominent retail site in Dudley. The Property is strategically located two miles from Nichols College, and two miles from both exits 1 and 2 on Interstate 395.
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.