December 28, 2021 – Aaron Huntley, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Michaels in Concord, New Hampshire. Horvath & Tremblay exclusively represented the seller to complete this transaction at a sale price of $3,900,000.
Michaels is located at 86 D’Amante Drive in Concord, New Hampshire. Michaels has been at this location since it was constructed for them in 2000 and recently executed a 5-year lease extension, demonstrating their commitment to the site and the market. Michaels has 5+ years remaining on their double-net lease with four (4), five-year renewal options. The Michaels Lease features rare $1.00 per square foot increases in rent at the start of each of their renewal options, providing the investor with a steady increase in income and an attractive hedge against inflation. The highly visible Michaels is strategically located on D’Amante Drive, the main access road for the Steeplegate Mall and the connector road linking Loudon Road (NH Route 9) and Sheep Davis Road (NH Route 106), two of Concord’s primary commercial corridors. The property is across the street from The Steeplegate Mall and adjacent to 99 Restaurants, Target, Home Depot, Best Buy, and a Shaw’s Supermarket. The location also provides convenient access to the region’s two major highways, Interstate I-93 and Interstate-393. as well as US Routes 3 and 202.
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.