April 28, 2022 – Joe DeSalvo, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of the Dollar Tree Center in Worcester, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $3,282,354.
The Dollar Tree Center is located at 1413 Grafton Street in Worcester, Massachusetts. The Property includes a 14,457 square foot building on a 2.32-acre lot. The retail strip center is anchored by Dollar Tree and also occupied by Domino’s and Little Smiles Dental. Dollar Tree features a corporate guarantee, and Dollar Tree and Domino’s are both on double-net leases with attractive 10% rental increases in their option periods. Little Smiles is on a 10-year, triple-net lease and features 10% rental increases every five years in the base term and option periods. The Dollar Tree Center is situated just off of Interstate 20 with signage and excellent visibility on Grafton Street. Grafton Street is home to a number of national tenants, and leads directly to Downtown Worcester, just 3.3-miles northwest of the Property. Worcester is the second-largest city in New England after Boston and is home to nine colleges and universities that attract a large student population to the area.
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.