September 14, 2021 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Rite Aid in Rochester, New Hampshire. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $7,600,000.
Rite Aid is located 105 Milton Road in Rochester, New Hampshire. Built as a prototype, free-standing store with drive-thru in 2010, the Property consists of 14,673 square feet on a 1.97-acre parcel at a signalized intersection across the street from Rochester Market Place. The Rite Aid lease is fully guaranteed by Rite Aid Corporation and has 10+ years remaining on the initial lease term plus six, 5-year renewal options. The Rite Aid lease is triple net with the tenant responsible for the utilities, the parking lot and all structural elements of the building. Landlord is fully reimbursed for all CAM, Taxes, Insurance, and any other expenses related to the operation of the Property. The Rite Aid offers excellent signage, double drive-thru lanes and easy access from Milton Road and is strategically located at a signalized intersection shared with Rochester Market Place across the street with excellent roadside exposure. The Rochester Market Place features Market Basket, the area’s primary grocery store, and Big Lots as anchor tenants.
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.