October 26, 2022 – Bob Horvath, Todd Tremblay and Matt Nadler of Horvath & Tremblay have successfully completed the sale of Berkshire Bank in West Hartford, Connecticut. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $3,650,000.
Berkshire Bank is located at 927 Farmington Avenue in West Hartford, Connecticut. Berkshire Bank has been operating at this location for over 8 years (since 2013) and they have 10+ years remaining on their Absolute NNN Lease, followed by eight (8), 5-year renewal options. The lease calls for attractive 10% rent increases every five years throughout the base term and at the beginning of each renewal option. Berkshire Bank is located at the signalized intersection of Raymond Road and Farmington Avenue in the downtown district of West Hartford, one the wealthiest towns in New England. The property is situated in the heart of West Hartford Center, directly in front of Blue Back Square, a 600,000-square foot lifestyle center built in 2007 with over 30 retailers including Crate & Barrel, Whole Foods Market, REI, and The Cheesecake Factory, office suites and luxury residential apartments. West Hartford’s municipal offices are also nearby including the Town Hall, Public Library and Police Station. The Property includes a dedicated drive-thru lane and a walk-up ATM.
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.