August 14, 2023 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of the Stop & Shop anchored Del Alba Plaza in Pittsfield, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $6,363,539.
Del Alba Plaza is located at 1 Dan Fox Drive in Pittsfield, Massachusetts. The Property consists of a free-standing 61,935 square foot Stop & Shop, a Stop & Shop gas station (2,000 square feet), and a three-unit 8,184 square foot satellite building leased to two regional tenants. Stop & Shop has 1+ years remaining on their leases with four (4) 5-year renewal options. Stop & Shop’s lease features attractive increases at the start of each renewal option. The Del Alba Plaza offers investors a stable, internet-resistant rent roll with 100% of the gross revenue derived from national or regional tenants. Additionally, the Property offers upside through the lease up of the vacant space and the potential development of a pad site that would support a 3,500 square foot building. Del Alba Plaza is situated on a large 12.98-acre corner parcel at the signalized intersection of Dan Fox Drive and South Street (US Routes 7 & 20), the area’s primary commercial and commuter corridor. The Del Alba Plaza enjoys outstanding signage, and benefits from strong traffic counts. Del Alba Plaza is well located between the center of Lenox and downtown Pittsfield, the commercial, financial, and medical hub of the Berkshires, and is surrounded by national retailers and several hotels that 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.