September 30, 2022 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of a multi-tenant retail center in Ware, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,700,000.
The retail center is located at 139 West Street in Ware, Massachusetts. The Property contains a 18,000 square foot retail plaza leased to Dollar General, Dunkin’ Donuts, and Subway. There is a lease pending for the fourth suite, that will allow the Property to be delivered with 100% occupancy. The Property is anchored by Dollar General which has 8+ years remaining on their lease. Dunkin’ Donuts has occupied the center since 1997 and recently executed a 10-year lease extension with their current term now expiring in July 2032. Subway has been at this location since 2013 and recently exercised one of their renewal options, they have 5+ years remaining on their lease. The Property is located along West Street (MA Route 32), the area’s primary commercial corridor. The Property benefits from outstanding visibility and frontage and is surrounded by numerous national retailers that further draw traffic to the area. The Property is positioned across the street from a Big-Y anchored center, the area’s primary grocery store. Additionally, the Property is less than 1-mile from the area’s elementary, middle, and high schools.
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.