January 20, 2022 – David McLaughlin of Horvath & Tremblay has successfully completed the sale of 908-914 South Avenue in Plainfield, New Jersey. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,705,000.
908-914 South Avenue is an 8,200 square foot two-tenant retail plaza in Plainfield, New Jersey. The Property is 100% leased to Quick Food Mart, a successful convenience store and Al & Jean’s Children First School. Both tenants have been at this location for more than 20 years and have 8+ years remaining on their leases. Both leases feature attractive annual rent increases providing a steady increase in income and an attractive hedge against inflation. The Property is set along a primary roadway in the densely populated residential city of Plainfield. The Property is strategically located along South Avenue with convenient access from both directions. Additionally, the Property is less than 0.3-miles from the Netherwood Train Station and 1-mile from the Plainfield Train Station, both with service to Manhattan’s Penn Station. Plainfield is a densely populated suburb serving the New York metropolitan area and is also the commercial center for the surrounding towns. The Property is strategically located along South Avenue in the affluent northeast section of the city. Plainfield is 12-miles west of Staten Island, and just 24-miles from New York City.
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.