January 13, 2022 – Bob Horvath, Todd Tremblay, Matt Nadler and Dan Bernardini of Horvath & Tremblay have successfully completed the sale of Dollar Tree in Palmyra, Maine. Horvath & Tremblay exclusively represented the Seller and procured the buyer to complete the transaction at a sale price of $1,602,705.
Dollar Tree is located at 1590 Main Street in Palmyra, Maine. Dollar Tree has occupied this building since its construction in 2015 and has 4+ years of term remaining on their double-net lease, followed by two, 5-year renewal options. The lease features attractive rental increases of 9.2% at the start of their first renewal option and 10.8% at the start of their second renewal option. Dollar Tree is situated along Main Street (US Route 2) in the east end of Palmyra, Maine. The Property enjoys outstanding visibility, frontage, and access along Main Street (US Route 2), the primary east-west artery travelling through Palmyra and Newport. Dollar Tree shares an intersection with AutoZone and the area’s only Walmart Supercenter. The Property is less than 1/3-mile from the intersection of Main Street and Moosehead Trail (ME Routes 7 & 100), the area’s other primary commuter corridor, and ½-mile from Interstate 95. The area has seen significant development over the last several years with a new construction Walmart Supercenter, a freestanding AutoZone, and a new construction Tractor Supply Co. Additionally, McDonald’s, Burger King, and Dunkin have all had their buildings remodeled to reflect the more current architectural designs in use by the tenants.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in 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.