March 29, 2024 – Kyle Danielson of Horvath & Tremblay has successfully completed the sale of a Community Bank in Belle Vernon, Pennsylvania. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,075,000.
Community Bank is located at 1670 Broad Avenue in Belle Vernon, Pennsylvania. The new construction single-tenant, Absolute NNN Leased Community Bank contains a 2,410 square foot building on a 0.96-acre parcel. Community Bank commenced has a 20-year Absolute NNN Lease with one (1) 5-year and one (1) 4.5-year renewal options. The lease features attractive 2% annual rent increases throughout the primary lease term and renewal options. The lease features a corporate guaranty from CB Financial Services, a publicly traded company on NASDAQ with the sock symbol CBFV. Situated at the signalized intersection of Broad Avenue and Rostraver Road, the Property is positioned in the center of Belle Vernon’s commercial district. The Property is surrounded by national retailers that drive traffic to the area including Walmart Supercenter, Lowe’s, Giant Eagle, Aldi, CVS, and numerous nationally branded restaurants. The Property is also just 0.3-miles from Interstates 70.
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.