December 22, 2021 – Hobart Hare and Daylan Skidmore of Horvath & Tremblay have successfully completed the sale of Speedway in Hampton, New Hampshire. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $9,580,000.
Speedway is located at 639 Lafayette Road in Hampton, New Hampshire. This is a new construction Speedway that was completed in 2020. The property consists of a 4,068 square foot Speedway prototype with 16 fueling stations on 1.00-acres of land. Speedway recently extended their lease early and there are 15+ years of term remaining on the corporate guaranteed, Absolute Net Lease, followed by four (4), 5-Year renewal options. The lease calls for an attractive 7.5% increase every five years throughout the primary term and at the start of each renewal option. Speedway is strategically located at the signalized intersection of Lafayette Road, the area’s primary commercial and commuter corridor and Kershaw Avenue. The Property is located across the street from a Hannaford’s and Walgreens, the area’s primary grocery store and pharmacy. Additionally, Speedway is less than 1.5-miles from Interstate 95 and less than 2-miles from Hampton Beach, a popular tourist destination that welcomes up to 50,000 people per day during the summer months.
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.