January 5, 2023 – Greg Moore and Hobart Hare of Horvath & Tremblay have successfully completed the sale of Tropical Smoothie in Huntsville, Alabama. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,100,840.
Tropical Smoothie is located at 2020 Winchester Road NE in Huntsville, Alabama. The stand-alone building consists of 1,679 square feet and sits on 0.75 acres of land. This is a new construction sale-leaseback of a Tropical Smoothie that features a 15-year Absolute Triple-Net Lease with three (3), 5-Year Renewal Options. The lease features scheduled rent increases of 10% every five years throughout both the primary term and the renewal option periods. Tropical Smoothie is located within Friendship Commons, a 45-acre master planned mixed-use development that when completed will feature quick-service restaurants, retailers service tenants and a 264-unit multi-family property. The Property is well-located along Winchester Road NE, the area’s primary commercial and commuter corridor and is within walking distance of the area’s primary grocers, Walmart Supercenter, Publix, and Aldi. Additionally, the immediate area is also home to several other new construction properties including Taco Bell, Whataburger, AutoZone and Tire Discounters. The area has experienced significant commercial and residential growth over the past several years driving traffic to the commercial corridor along Winchester Road NE.
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.