July 26, 2022 – Bob Horvath, Todd Tremblay and Hobart Hare of Horvath & Tremblay have successfully completed the sale of Dodge Crossing in Beverly, Massachusetts. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $6,593,750.
Dodge Crossing is a retail plaza located at 2-6 Enon Street in Beverly, Massachusetts. Completely renovated in 2021, the 21,350 square foot, seven tenant retail plaza is 100% occupied and is anchored by Citizens Bank and Mattress Firm. Citizens Bank has 9+ years remaining on their lease with three (3), 5-year renewal options. Mattress Firm also has 9+ years remaining on their lease with two (2), 5-year renewal options. Dodge Crossing is strategically located at the signalized intersection of Enon Street and Dodge Street (MA Route 1A), the region’s primary retail corridor. The Property enjoys outstanding visibility and frontage with two points of access and is situated across the street from the North Beverly MBTA Commuter Train Station. Dodge Crossing benefits from exposure to more than 24,500 vehicles per day and pedestrian foot traffic as area residents access the North Beverly Train Station. The Property also offers convenient access to the Yankee Division Highway (MA Route 128), a major commuter route to Boston and the primary artery connecting commuters to Interstate 95. Beverly has experienced much economic growth through efforts to enhance downtown Beverly’s economic vitality, cultural and historic resources, and quality of life. The downtown is home to over 300 independently owned business, over 12,000 residents, and two colleges: Endicott College and Montserrat College of Art. With excellent access to Route 128 and five commuter rail stations, Beverly has a thriving downtown and multiple business/employment centers and facilities including Cherry Hill Business Park and Cummings Center.
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.