August 31, 2022 – Todd Tremblay, Bob Horvath and Matt Nadler of Horvath & Tremblay have successfully completed the sale of O’Reilly Auto Parts & Rent A Center in Waterbury, Connecticut. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $3,020,000.
O’Reilly Auto Parts and Rent A Center are located at 104 Thomaston Avenue in Waterbury, Connecticut. The two-tenant plaza is improved with O’Reilly Auto Parts (new 15-Year Lease) and Rent-A-Center (8+ Year Lease) and contains 13,700 square feet on a 0.8-acre parcel. O’Reilly Auto Parts has a 15-year lease with four (4), 5-year renewal options. Rent-A-Center has 8+ years remaining on their lease with one (1), 5-year renewal option. The O’Reilly Lease calls for a 6.0% rent increase at the start of Lease Year 11 and at the start of each renewal option. The Rent-A-Center Lease calls for a 7% rent increase in 2025 and at the start of their renewal option. The Property is well located along Thomaston Avenue and benefits from outstanding visibility and frontage. The location is part of a trade area centered around West Main Street and is just ½ mile west of the center of downtown Waterbury and ½-mile east of the Waterbury Hospital and CT Route 8, one of the state’s primary north south highways. The Property is surrounded by numerous businesses, national tenants, and the Waterbury Courthouses (superior and municipal). Additionally, the Property is within 1.5-miles from three area colleges: UCONN Waterbury, Post University, and Naugatuck Valley Community College drawing significant traffic to the area.
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.