January 14, 2025 – Matt Nadler, Bob Horvath, Todd Tremblay and Jason Woods of Horvath & Tremblay have successfully completed the sale of a Chick-fil-A in West Haven, Connecticut. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $5,176,470 which represents a 4.25% Cap Rate.
The new construction Chick-fil-A is located at 487 Saw Mill Road in West Haven, Connecticut and consists of a 2,702 square foot building with a double drive thru. Chick-fil-A has a new 20-year Absolute NNN Ground Lease with eight (8), five-year renewal options. The lease calls for an attractive 10% rent increase in year 11 and at the start of each renewal option. The Property opened to the public in November 2024. The new construction Chick-fil-A is extremely well located along Saw Mill Road (CT Route 162). The Property enjoys outstanding visibility, frontage and signalized access and is positioned directly in front of Interstate 95’s exit 42 on-off ramp. The Property is part of a dominant trade area that is home to numerous national retailers and restaurants (including Walmart Supercenter, McDonald’s, 7-Eleven, Starbucks, Chipotle, Aspen Dental, Texas Roadhouse and Aldi), the West Haven Train Station, the VA Hospital and VA Connecticut Healthcare System Campus, Yale University West Campus, and major roadways including US Route 1 and Interstates 95, all of which drive traffic to the area. Additionally, the Property is within minutes of several area public and private schools, several colleges and universities, multiple nationally branded hotel/motels, and is surrounded by densely populated residential neighborhoods providing a built-in customer base.
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.