December 3, 2021 – Bob Horvath, Todd Tremblay, Matt Nadler and Chris King of Horvath & Tremblay have successfully completed the sale of Dollar Tree in Springfield, Massachusetts. Horvath & Tremblay exclusively represented the Seller and procured the buyer to complete the transaction at a sale price of $2,223,281.
Dollar Tree is located at 375 Allen Street in Springfield, Massachusetts. Dollar Tree has occupied this building since its construction in 2016 has over 5 years of term remaining on their double-net lease and is followed by two, 5-year renewal options. The lease features attractive rental increases of $1.00 per square foot at the beginning of each renewal option. Dollar Tree is situated on a corner parcel at the signalized intersection of Allen Street and Island Pond Road. The Property enjoys good visibility along Allen Street, a primary east-west artery travelling through the densely populated city of Springfield. On average, more than 21,000 vehicles pass the Property daily at the intersection of Allen Street and Island Pond Road. Springfield is the fourth-largest city in New England after Boston, Worcester, and Providence, and is home to several colleges and universities that attract a large student population to the area.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in 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.