December 20, 2023 – Aaron Huntley, Bob Horvath, Todd Tremblay, and Jack Laurendeau of Horvath & Tremblay have successfully completed the sale of Citizens Bank in Somersworth, New Hampshire. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,150,000.
Citizens Bank is located at 10 Constitutional Way in Somersworth, New Hampshire. Citizens Bank has a long operating history at the Property and has been at this location since 2006 (16+ years) and recently extended their lease demonstrating their commitment to the site and the market. The Citizens Bank lease has over 3 years remaining on their triple net lease followed by two (2), 3-year renewal options. The lease features attractive rent increases at the start of each renewal option period. Citizens Bank is well-located in the commercial downtown of Somersworth, with excellent visibility, signage, and multiple points of access. The Property includes a dedicated drive-thru lane and a drive-up ATM on a 0.56-acre lot. Citizens Bank is well positioned along Constitutional Way adjacent to the intersection with High Street (NH Route 9) and 500 feet from the intersection with Washington Street. The Property is close to the Somersworth Middle and High Schools, municipal offices and numerous local retailers and businesses that drive traffic to the area. The Property is also close to NH Routes 236, 108, and 16 (the Spaulding Turnpike).
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.