December 17, 2024 – Chris King and Matt Nadler of Horvath & Tremblay have successfully completed the sale of Advance Financial Portfolio in Kingsport and Sparta, Tennessee. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,642,500.
The Advance Financial Portfolio consists of two Properties located at 1104 East Stone Drive in Kingsport, and 447 West Brockman Way in Sparta, Tennessee. Advance Financial’s Kingsport location has 3 years remaining on their lease with 2, 5-year renewal options. The triple net lease calls for 2% annual increases throughout the primary lease term and renewal options. The Sparta location has 3+ years remaining on their lease with 3, 5-year renewal options. The triple net lease calls for increases at the start of each renewal option. Both of the Properties are situated along well-developed commercial corridors and feature prominent signage and convenient access to the local communities. The Properties are surrounded by national retailers that drive traffic to the area, densely populated residential neighborhoods, and are within close proximity to the area’s major economic drivers.
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.