February 10, 2022 – Michael Lombardi of Horvath & Tremblay has successfully completed the sale of 7-Eleven in Clark, New Jersey. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,410,000.
7-Eleven is located at 10 Westfield Avenue in Clark, New Jersey. 7-Eleven has been at this location since 2012 (10 Years) and recently extended their lease, demonstrating their commitment to the site and the market. 7-Eleven has 5+ years of term remaining on their lease with two (2) additional 5-year renewal options. The lease features a 10% rent increase at the start of each renewal option. The Property benefits from a central location along Westfield Avenue, the area’s primary commercial corridor bisecting Clark. The Property is well located and enjoys a corner lot at the signalized intersection of Westfield Avenue and Lincoln Boulevard, allowing for convenient access from both roadways. 7-Eleven is less than 0.5-miles from the Robert Wood Johnson University Hospital and is less than 1-mile from the area’s three (3) primary High Schools and the Garden State Parkway, and 1.5-miles from the Rahway Train Station with service to Manhattan.
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.