April 20, 2022 – Brendan Conway of Horvath & Tremblay has successfully completed the sale of Walgreens in Stamford, Connecticut. Horvath & Tremblay represented the buyer to complete this transaction at a sale price of $16,200,000.
Walgreens is located at 780 E Main Street in Stamford, Connecticut. Walgreens has been at the Property since its construction in 2008 and has 12 years remaining on a triple-net lease with seven (7), 5-year renewal options. The lease calls for rare and attractive 10% increases every ten years throughout the base term and renewal options. The Property is a condominium interest located on the ground floor of the Glenview House, a luxury 146-unit Class A multifamily community. Walgreens is situated on a highly visible corner parcel located at the signalized intersection of E Main Street and Glenbrook Road in downtown Stamford. The intersection sees more than 50,000 vehicles per day. The Property is located in Stamford’s the Central Business District. Stamford is home to the headquarters of nine Fortune 500 Companies and includes the largest office market in Fairfield County. Its economy has a diverse mix of finance, consumer products, digital media, and healthcare. Stamford is massively affluent and due to the Stamford Transportation Center, just a mile from the Property, the city has direct access to Manhattan in just 45 minutes.
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.