December 20, 2021 – Bob Horvath, Todd Tremblay and Matt Nadler of Horvath & Tremblay have successfully completed the sale of Walgreens in Hartford, Connecticut. Horvath & Tremblay exclusively represented the seller to complete this transaction at a sale price of $6,087,000.
Walgreens is located at 161 Washington Street in Hartford, Connecticut. Walgreens has been at the Property for 25 years and just exercised two of their renewal options early, demonstrating their commitment to the site and the market. Walgreens has 10+ years remaining on their lease with five (5), 5-year renewal options. Walgreens has an 11.2% rent increase in their first renewal option. The Property consists of 13,855 square feet on a 1.39-acre parcel at the signalized intersection of Washington Street and Park Street, and is 1,000 feet from the Hartford Hospital (a 938-bed acute care teaching hospital) and Connecticut Children’s Hospital (a 185-bed acute care teaching hospital focused solely on pediatric care). The property is just southwest of Hartford’s central business district and offers convenient access to Interstates 84 and 91, Trinity College, the state capitol and numerous downtown employers. Walgreens has enjoyed strong and increasing reported store sales at this location.
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.