March 28, 2022 – Jeremy Black, Luke Thomson and William Peck of Horvath & Tremblay have successfully completed the sale of WellNow Urgent Care in Cortland, New York. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $2,566,087.
WellNow Urgent Care is located at 1120-1122 NY Route 222 in Cortland, New York. The new construction, stand-alone building was completed in 2022 and is comprised of 3,500 square feet on a 0.52-acre lot. WellNow Urgent Care has a 10-year, double net (NN) lease with three, 5-year renewal options. The lease calls for 10% rent increases every five (5) years throughout the base term and option periods. The WellNow is exceptionally well located at the signalized intersection of NY Route 222 and West Road (NY Route 281), the primary retail corridors traversing Cortland. The Property is a pad site on a larger shopping center that is anchored by Valu Home Centers and adjacent to a Tops Friendly Markets-anchored shopping center. The area is home to a number of national retailers, is 1 mile from the State University of New York in Cortland (SUNY Cortland), 1.5 miles from US Route 11 and 2 miles from Interstate 81.
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.