March 25, 2024 – Bob Horvath, Todd Tremblay, Dan Bernardini, Michael Talbert and Matt Nadler of Horvath & Tremblay have successfully completed the sale of Advance Auto Parts in New Haven, Connecticut. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete this transaction at a sale price of $1,515,021.
Advance Auto Parts is located at 471 Foxon Boulevard in New Haven, Connecticut. Constructed in 1997, Advance Auto Parts has been at this location for 26 years and recently extended their lease, demonstrating their commitment to the site and the market. Advance Auto Parts has 8+ years remaining on their lease with one (1), 5-year renewal option. The lease features an attractive rent increase at the start of their renewal option. Advance Auto Parts is responsible for all operating expenses (real estate taxes, insurance, and common area maintenance) as well as repairs and striping of the parking lot. Advance Auto Parts is ideally situated along Foxon Boulevard (CT Route 80), the area’s primary commercial and commuter corridor. The Property enjoys outstanding visibility, frontage and signage and is adjacent to KFC and Walgreens and across the street from an Aldi anchored shopping center. The Property is 0.5-miles from Walmart Supercenter and Lowe’s, 0.8-miles from Interstate 91, 1-mile from US Route 5, and 3.5-miles from Downtown New Haven, Yale University, Interstate 95 and US Route 1. The Property is surrounded by national retailers driving traffic to the area, and densely populated residential communities and neighborhoods that provide a built-in customer base.
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.