August 16, 2023 – Michael Lombardi of Horvath & Tremblay has successfully completed the sale of Olive Garden in Enfield, Connecticut. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,260,000.
The Olive Garden is located at 41 Hazard Avenue in Enfield, Connecticut. The stand-alone building consists of 9,230 square feet and sits on 1.00-acres of land. Olive Garden has been at this location since 2019, and recently extended their lease, demonstrating their commitment to the site and the market. Olive Garden has 11+ years remaining on their Absolute NNN Lease with two (2), 5-Year renewal options. The lease features attractive 1.5% annual rent increases throughout the primary lease term and renewal options. Olive Garden is strategically positioned along Hazard Avenue (CT Route 190), the area’s primary commercial corridor. The Property is a pad site to Enfield Commons, a large regional center that is anchored by Aldi, Michaels, Marshalls and Homesense. The Property is also across the street from Brookside Plaza, a ShopRite and TJ Maxx anchored shopping center. The area is home to countless other national retailers and restaurants that drive traffic to the area and is also just seconds from a Stop & Shop, Big-Y Supermarket, Costco and the Enfield Square Mall. Olive Garden is also just 0.5-miles from Interstate 91, and is 0.9-miles from Enfield Street (US Route 5).
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.