March 9, 2022 – Bob Horvath, Todd Tremblay and Brad Canova of Horvath & Tremblay have successfully completed the sale of ConvenientMD in Augusta, Maine. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $5,076,400.
ConvenientMD is located at 10 Whitten Road in Augusta, Maine. The stand-alone building was constructed for ConvenientMD in 2021 and contains 5,148 square feet, on a 0.84-acre lot. ConvenientMD has 19+ years remaining on their Absolute NNN Lease, as well as four, 5-year renewal options. The lease calls for 10% rent increases every five years throughout the base term and at the start of each renewal option. The property is located within the regional trade area along Route 202 at Interstate 95. ConvenientMD is located in the Turnpike Mall Shopping Center and across the street from Hannaford Supermarket. The property is well positioned along Route 202, the primary commercial corridor in Augusta, with many national retailers and restaurants in the immediate trade area. The Property is located less than 0.2 miles from the Interstate 95/Route 202 interchange providing convenient highway access and visibility for area residents and passing motorists.
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.