August 3, 2022 – Bob Horvath, Todd Tremblay and Mike Lombardi of Horvath & Tremblay have successfully completed the sale of a Dark Santander Bank in Manchester, New Jersey. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $500,000.
The Santander Bank building is located at 2560 Route 37 in Manchester, New Jersey. Santander Bank has 1+ year remaining on the lease. This location is dark; however, Santander continues to pay rent and fulfill the other obligations of their lease for the remainder of their lease term. Santander Bank is situated adjacent to the signalized intersection of NJ Route 37 and Colonial Drive. The Property benefits from outstanding visibility, frontage, and access along NJ Route 37 and also has dedicated access along Colonial Drive. The location is part of a trade area centered around the Joint Base McGuire-Dix-Lakehurst, the nation’s only Tri-Service Military Base. The Property is also within 1-mile of the town’s three schools and municipal offices. The Property is zoned Town Center “TC”, which is one of the most versatile zoning designations in the town of Manchester and provides versatility when releasing the building after Santander’s lease expires. Manchester is a town along the northern portion of the New Jersey shoreline and is approximately 55 miles south of New York City and 45 minutes east of Philadelphia.
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.