June 1, 2022 – Michael Talbert and Michael Lombardi of Horvath & Tremblay have successfully completed the sale of Popeyes in Marlboro, New Jersey. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,600,000.
The Popeyes is located at 36 Route 9 N in Marlboro, New Jersey. The property is improved with a 3,150 square foot building. Popeye’s has 13 years remaining on their Absolute NNN Lease with one (1), 5-year renewal option. The lease calls for attractive rent increases every five years throughout the base term and at the start of the renewal option. The Property was remodeled for Popeyes in 2019. The remodeled building features an attractive architectural design with a brick exterior, a drive-thru, and outdoor seating. The Property is set along US Route 9 N, 1-mile from the interchange with NJ Route 18, the areas two primary commercial and commuter corridors. The Property benefits from outstanding visibility and frontage along US Route 9 and is surrounded by national retailers and restaurants. With a large component of residents and commuters traveling through the township the strategically placed property should benefit from tremendous exposure. Marlboro is approximately 40-miles from New York City.
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.