December 19, 2024 – Bob Horvath, Todd Tremblay and Zach Smith of Horvath & Tremblay have successfully completed the sale of Chili’s in East Wareham, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,500,000 and a 5.70% Cap Rate.
Chili’s is located at 2885 Cranberry Highway in East Wareham, Massachusetts. Chili’s has been at this location since 2004 and just executed their third of four 5-year lease extensions, demonstrating their commitment to the site and the market. The Chili’s Ground Lease has 4+ years remaining with one (1), 5-year renewal option. The Chili’s ground lease features a 10% rental increase at the start of the remaining option period, providing a strong increase in income and an attractive hedge against inflation. Chili’s is situated on a pad site to Cranberry Plaza, a Stop & Shop-anchored retail center on US Route 6 just outside of Cape Cod and a short drive from the junction of Interstates 495 and 195. Located along one of the primary routes to get into Cape Cod, the Property is surrounded by numerous businesses and retailers (Stop & Shop, Home Depot, Tractor Supply, CVS, Ocean State Job Lot, Dollar Tree, Planet Fitness, AutoZone, McDonald’s, Taco Bell/KFC, Burger King, KFC, Eastern Bank, Rockland Trust Bank, and Midas) attracting consumers to the area.
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.