August 12, 2021 – Matt Nadler of Horvath & Tremblay has successfully completed the sale of Starbucks in West Springfield, Massachusetts. Horvath & Tremblay represented the seller in this transaction at a sale price of $3,050,000.
Starbucks is located at 1067 W Riverside Street in West Springfield, Massachusetts. Starbucks executed a new 10-year lease with four, 5-year renewal options. The lease features a 12.5% rent increases every five years throughout the base term and at the start of each renewal option. The new construction Starbucks has approximately 10-years remaining on their lease. Starbucks is well-located on Riverdale Street (US Route 5), the primary retail corridor in West Springfield. The Property sits at the entrance to the Riverdale Center, a neighborhood shopping center anchored by Home Depot, Costco, and Dick’s Sporting Goods, and is just 1,000 feet from the Riverdale Shops which are anchored by Stop & Shop and Kohl’s. The property is also within 1-mile of fourteen (14) hotels/motels. Additionally, the Property is sits adjacent to the on-off ramp for Interstate 91 and is less than ½-mile from the junction of Interstate 91 and Interstate 391, and 2-miles from Interstate 90 (The Massachusetts Turnpike).
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.