October 7, 2024 – Jack Laurendeau, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of a Chase Bank in Dover, New Hampshire. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,000,000.
The new construction Chase Bank is located at 1-3 Webb Place in Dover, New Hampshire. The Chase Bank branch consists of a 3,333 square foot building with a dedicated drive through lane on a 0.98-acre corner parcel. Chase Bank has a new 15-year Absolute NNN Ground Lease with six (6), five-year renewal options. The Lease calls for attractive rent increases of 10% every five years throughout the primary term and option periods. The property is strategically situated at the signalized intersection of Indian Brook Road and Central Avenue (NH Route 9), in the heart of Dover’s primary retail district, which is home to prominent retailers such as Market Basket, Home Depot, Target, Walmart, Hannaford, and HomeGoods, all of which drive traffic to the area. The Property benefits from excellent visibility at a signalized intersection and provides easy access to Route 16 (Spaulding Turnpike), a major route with an average daily traffic count of approximately 45,000 vehicles.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in 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.