February 8, 2024 – Bob Horvath, Todd Tremblay and Jack Laurendeau of Horvath & Tremblay have successfully completed the sale of a Mavis in Thomasville, North Carolina. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,750,000.
The new construction Mavis is located at 1585 Liberty Drive in Thomasville, North Carolina. The new construction build to suit, single-tenant net-leased Mavis contains 6,979 square feet on a 1.45-acre parcel. Mavis has 19+ years remaining on their Absolute NNN Lease term with five, 5-year renewal options. The Lease calls for attractive 10% rent increase every five years throughout the primary lease term and at the start of each of the renewal options, providing a fixed increase in income and an attractive hedge against inflation. The Property is an outparcel to Liberty Square, a Walmart anchored shopping center, and is situated along Liberty Drive in a heavily developed commercial district that is centered around Interstate 85 in the south-end of Thomasville. Mavis is positioned adjacent to the entrance to Liberty Square and is 0.2-miles from Randolph Street (NC Route 109), the area’s primary commercial and commuter corridor. The Property is also just 0.4-miles from Interstate 85 and 3.7-miles from US Highway 70. The trade area, which is positioned along the Interstate 85 corridor, is home to national retailers, restaurants, manufacturing, and warehouse properties that drive significant traffic to the area as well as a growing number of residential neighborhoods, providing a strong 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.