December 20, 2021 – Bob Horvath, Todd Tremblay and Hobart Hare of Horvath & Tremblay have successfully completed the sale of Walgreens in Latrobe, Pennsylvania. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete this transaction at a sale price of $5,500,000.
Walgreens is located at 2801 Sharky’s Drive in Latrobe, Pennsylvania (the “Property”). Walgreens has been at the Property since its construction in 2009 and has 13+ years remaining on an absolute triple-net lease with fifty (50), 1-year renewal options. Walgreens has been at the Property since its construction in 2009 and has more than 13 years remaining on an absolute triple-net lease with fifty (50), 1-year renewal options. The Property is situated on a highly visible corner parcel at the signalized intersection of Sharky’s Drive and Lincoln Highway (US Highway 30), the area’s primary commuter road (25-miles to downtown Pittsburgh) and commercial corridor. Walgreens is located within the Unity Village Shoppes, a four-building condominium development that includes Aldi, Starbucks and Verizon Wireless, and a vacant single tenant building formerly occupied by PetValu. The Property is surrounded by larger shopping centers and national retailers, and benefits from the large commuter base traveling along US Highway 30 to and from Pittsburgh. Additionally, the Property is less than 1.5-miles from Saint Vincent College, home to more than 2,000 students and faculty members, and the Arnold Palmer Regional Airport.
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.