March 8, 2023 – Kyle Danielson, Hill Kanellos and Austin Smith of Horvath & Tremblay have successfully completed the sale of Firestone in Smyrna, Delaware. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,567,280.
Firestone is located at 15 S Cory Lane in Smyrna, Delaware. The new construction Firestone was completed in 2021 and contains 6,116 square foot building on a 0.83-acre parcel of land. Firestone has 13+ years remaining on their Absolute NNN Lease with five (5), 5-year renewal options. The lease features attractive 5% rent increases every five years throughout the primary lease term and at the start of each of the renewal options. The Property enjoys an outstanding location along S Cory Lane with outstanding visibility and frontage along S Dupont Boulevard (US Route 13) which sees more than 31,900 vehicles per day. The Property is also just 0.25-miles from DE Highway 1, the area’s primary commuter corridor. The area has seen significant development over the last few years and is home to numerous national retailers including Food Lion, Aldi, Tractor Supply Co, Walgreens, Starbucks and several nationally recognized quick serve restaurants, all of which drive traffic and customers to the area. The Property is also just 3-miles from a Walmart Distribution Center. Smyrna is located in north-central Delaware approximately 10-miles north of Dover.
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.