November 3, 2022 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of the Machias Savings Bank in Rockland, Maine. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $1,725,000.
Machias Savings Bank is located at 3 Glen Street in Rockland, Maine. Machias Savings Bank has been at this location since 2006 and has 14 years remaining on their Absolute NNN Ground Lease. The 3,700 square foot single tenant building is shadow anchored by Harbor Plaza, a Shaw’s Supermarket, TJ Maxx/HomeGoods and a Staples anchored shopping center. Additionally, the Property is seconds from a Home Depot and a Hannaford anchored shopping center. Machias Savings Bank is strategically located on the corner of Glen Street and Camden Street (US Route 1), the primary commercial corridor serving residents of Mid-Coast Maine and the tens of thousands of visitors and summer residents to the coastal towns around Penobscot Bay and Acadia National Park. The population of Rockland and the surrounding communities more than triples during the summer months with the arrival of tourists and summer residents.
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.