December 20, 2021 – Brad Canova and Stephen Girolamo of Horvath & Tremblay have successfully completed the sale of an Arby’s in New Brighton, Pennsylvania. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,462,857.
The sale represents a sale and leaseback of an Arby’s located at 401 5th Street in New Brighton, Pennsylvania. The newly constructed (2020) Arby’s consists of a 2,800 square foot building on 0.725-acres of land. Arby’s signed a new 20-year Absolute NNN Lease at the close of escrow. The lease calls for attractive 8.0 percent rental increases every five years in the base term, as well as at the start of each of the two renewal options. The location is operated by a highly experienced, 165-unit convenience store and restaurant operator based in nearby Marietta, Ohio. Arby’s is prominently positioned on 5th Avenue, a primary thoroughfare in New Brighton that connects to State Route 18, which in turn feeds to Interstate 276, which rings Pittsburgh. Arby’s benefits from limited fast-food competition in the immediate trade area. With the exception of Subway, the only national-brand, fast-food options (Wendy’s and McDonald’s) are 1.5 miles away in Beaver Falls, PA. The property is four miles from the 360-bed Heritage Valley Beaver Hospital, which serves Allegheny, Beaver, Butler, and Lawrence counties in Pennsylvania, eastern Ohio, and the Panhandle of West Virginia. One of the largest chemical plants in North America (The Shell Pennsylvania Chemicals Plant) will open in 2022, seven miles from Arby’s. The $6 billion petrochemical complex is now more than 70% complete. The plant will add an estimated 600 workers to Beaver County.
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.