October 28, 2022 – Jeremy Black, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Webster Plaza in Webster, New York. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $18,593,750.
Webster Plaza is located at 980 Ridge Road in Webster, New York. The 154,991 square foot shopping center consists of a 139,148 square foot inline strip center anchored by Savers, the Town of Webster (public library), and Pet Supplies Plus, a 5,970 square foot inline strip center leased to Starbucks, Subway, Fed-Ex and Yolickity, and three free-standing single tenant buildings leased to KeyBank (Corporate Lease), Bank of America (Corporate Lease), and Burger King (Carrols Corp). Webster Plaza also offers a value-add component through the lease up of the existing vacant space and the ability to develop two additional pad sites, further enhancing the cash flow and value of the Property. The majority of the Tenants have scheduled rent increases throughout their primary lease terms, as well as at the start of their option periods. Webster Plaza is exceptionally well located at the signalized intersection of Ridge Road (NY Route 404) and Hard Road, and benefits from excellent visibility, signage, and frontage with five points of access. Webster Plaza is located in the heart of the area’s primary commercial corridor and is surrounded by numerous businesses including Xerox’s 5-Million square foot campus, national retailers, two area high schools, large scale apartment communities, residential neighborhoods, and several government facilities attracting consumers to the area. The location also offers convenient access to the Irondequoit – Wayne County Expressway, which provides direct access to downtown Rochester.
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.