February 15, 2023 – Chris King of Horvath & Tremblay has successfully completed the sale of Goodwill in Toledo, Ohio. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,725,000.
Goodwill is located at 5916 US Highway 49 in Hattiesburg, Mississippi. The property is 100% leased to Goodwill Industries of Mississippi, Inc., a chapter of Goodwill Industries International. Goodwill signed a 10-year NN lease at the Property in 2019 and has 6+ years remaining on their lease with three (3), 5-year renewal options. The lease calls for attractive 10% rent increases at the start of each renewal option. Goodwill is exceptionally well-located at the signalized intersection of Cloverleaf Drive and US Highway 49, the area’s primary commercial and commuter corridor, The Property features outstanding visibility, frontage, and prominent signage, as well as several points of entry and egress and is shadow anchored by the Cloverleaf Center, a large shopping mall offering over 400,000 square feet of prime retail, office and restaurant space, and is 0.3 miles from a Walmart Supercenter providing a robust consumer base. The Property is 0.5-miles from the University of Southern Mississippi and Forest General Hospital both of which drive traffic to the area.
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.