October 18, 2021 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Walgreens & John Brewers Tavern in Waltham, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $10,400,000.
The Walgreens & john Brewers Tavern are located at 21 & 39 Main Street in Waltham, Massachusetts. The two adjacent, fee-simple properties are leased to Walgreens and John Brewer’s. Walgreens, located at 21 Main Street, has been at the Property for more than 22 years and just exercised two of their renewal options early, demonstrating their commitment to the site and the market. Walgreens has 12+ years remaining on their lease with five (5), 5-year renewal options. John Brewer’s, located at 39 Main Street, has been at this location for more than 22 years. 21 Main Street contains a 13,855 square foot freestanding Walgreens with a drive-thru on a 1.06-acre parcel. 39 Main Street contains a 6,257 square foot freestanding John Brewer’s on a 0.72-acre parcel. The properties are well located at the intersection of Main Street (US Route 20) and Warren Street in a high-density residential neighborhood 1.5-miles from downtown Waltham and its vibrant shops, restaurants, and nightlife as well as Bentley University. The Property is located 10 miles to the west of Boston and less than 3 miles from both I-90 (the “Mass Pike”) and I-95 (Route 128) offering convenient access to Boston, Cambridge, and the Route 128 Technology Corridor.
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.