September 13, 2022 – Matt Nadler of Horvath & Tremblay has successfully completed the sale of the River Centre in Cromwell, Connecticut. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,065,434.
The River Centre is located at 77 Berlin Road in Cromwell, Connecticut. The Property is a 9,990 square foot retail strip center on a 1.88-acre parcel. River Centre is 100% leased to seven tenants on double-net leases. The retail center is improved by a Goodwill Donation Center and a complimentary mix of local tenants offering products and services for the surrounding community. All seven tenants are on double-net leases, with tenants reimbursing for all operating expenses at the Property, including CAM, Insurance, and Taxes. River Centre is situated along Berlin Road adjacent to the intersection with Coles Road and East Street. The Property is conveniently located between Interstate 91 and CT Route 9, and the area serves as the primary commercial destination in Cromwell. River Centre enjoys outstanding frontage and visibility along Berlin Road and is surrounded by national retailers, including a Walmart Supercenter, Stop & Shop, Lowe’s, ShopRite and Price Rite. Cromwell is 10 miles south of downtown Hartford.
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.