June 28, 2021 – Bob Horvath, Todd Tremblay, and Jason Woods of Horvath & Tremblay have successfully completed the sale of Advance Auto Parts in Stratford, Connecticut. Horvath & Tremblay represented the buyer to complete this transaction at a sale price of $2,759,838.
Advance Auto Parts is located at 1350 Barnum Avenue in Stratford, Connecticut. Advance Auto Parts has been operating at the property for six (6) years and has nine (9) years remaining on their Double-Net Lease which includes three, 5-year renewal options with fixed rent increases of 7.9% at the start of the first Option, and 10% increases at the start of the second and third options. The 6,768 square foot, stand-alone building was built in 2014, and is situated on a 0.5-acre parcel. The property is extremely well-located at the signalized intersection of Barnum Avenue (US Route 1) and California Street. This highly visible location is next to the Stratford High School and allows for convenient access to Interstate 95. The Property is in a densely populated area and is surrounded by national retailers drawing traffic to the area.
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.