December 30, 2021 – Bob Horvath, Todd Tremblay and Matt Nadler of Horvath & Tremblay have successfully completed the sale of Chili’s in Harrisburg, Pennsylvania. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,330,000.
The Chili’s is located at 4611 High Pointe Boulevard in Harrisburg, Pennsylvania. The stand-alone building consists of 5,876 square feet and sits on 1.43 acres of land. Chili’s has been at this location since it was constructed in 2007 and just executed a 10-year lease extension demonstrating their commitment to the site and the market. The ground lease has 10+ years remaining with two (2), 5-year renewal options. The ground lease features annual rent increases throughout the primary lease term and significant rent increases (8.1% and 11.3%) at the start of each of the two renewal options. Chili’s is strategically positioned as an outparcel to High Pointe Commons, a regional shopping center anchored by a high-volume Target. The property is situated adjacent to exit 2 on Interstate 283, which sees approximately 60,000 vehicles per day and is near the confluence of major roadways I-283, I-83, I-76, Route 441, and Route 322.
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.