September 8, 2021 – Hobart Hare and Ryan Benton of Horvath & Tremblay have successfully completed the sale of a Skechers in Winston-Salem, North Carolina. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,850,000.
Skechers is located at 909 Hanes Mall Boulevard in Winston-Salem, North Carolina The property was constructed in 2015 and consists of a 4,512 square foot stand-alone building on a 0.67-acre parcel of land. Skechers has 8+ years of term remaining on a corporate guaranteed Double Net lease followed by three, 5-Year renewal options. The lease calls for a 10% rent increase in year 6 of the lease and a 10% increase at the start of each renewal option. The property is ideally located at the signalized intersection of Hanes Mall Boulevard and South Stratford Road, two of the primary commercial and commuter corridors in the area. The property enjoys excellent frontage and visibility and is surrounded by national retailers. The signalized intersection sees more than 56,000 vehicles per day and is just off of Interstate 40.
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.