March 21, 2022 – Jeremy Black and Reed Blee of Horvath & Tremblay have successfully completed the sale of WellNow Urgent Care in Buffalo, New York. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,734,375.
WellNow Urgent Care is located at 1597 Elmwood Avenue in Buffalo, New York. The new construction Property opened in October of 2021. The stand-alone building is comprised of 3,500 square feet on a 0.46-acre lot. The WellNow lease has an initial 10-year term plus 3, 5-year renewal options. The lease includes 10% rental increases every five years throughout the initial term and option periods. WellNow is located at a signalized intersection of Elmwood Avenue and Amherst Street in the Park Meadow neighborhood of Buffalo and sees more than 28,800 vehicles per day. The Property is situated along the municipal bus line, enjoys convenient access to the area’s main roadways (Interstate 190, the Scajaquada Expressway, NY Route 5), and is 1 mile from SUNY Buffalo State College and 3 miles from the University at Buffalo, with a combined enrollment of approximately 40,000 students. Additionally, the Property is within 3 miles of several area high schools.
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.