July 24, 2024 – Bob Horvath, Todd Tremblay and Jack Laurendeau of Horvath & Tremblay have successfully completed the sale of the Paper Store Plaza in Norwalk, Connecticut. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $3,983,042.
The Paper Store Plaza is located at 572 Main Avenue in Norwalk, Connecticut. Redeveloped in 2021, the Paper Store Plaza is comprised of three tenants and has a gross leasable area of 14,497 square feet and is positioned on a 1.12-acre parcel. The Paper Store occupies 10,000 square feet and has 2+ years remaining on their lease with one (1), 5-year renewal option. The remaining 4,497 square feet is leased to Geico, which has 3+ Years remaining on their lease and Verizon which has 7+ Years remaining on their lease. The highly visible Property is extremely well located along Main Avenue (US Route 7), the area’s primary commercial and commuter corridor. Located in the north-end of Norwalk, 572 Main Avenue benefits from prominent signage and two points of access. The Property is surrounded by significant commercial clusters driving traffic to the area and high-density residential neighborhoods, providing an instant customer base for the tenants in the plaza. The Paper Store Plaza has outstanding access to US Route 7, the Merritt Parkway (CT Route 15) and Interstate 95 as well as the Merritt 7 Train Station.
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.