June 5, 2025 – Jack Laurendeau of Horvath & Tremblay has successfully completed the sale of two adjacent single tenant properties leased to Chipotle & Starbucks in Bennington, Vermont. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $5,250,000.
The two single tenant net leased Properties are located at 106 and 108 Northside Drive in Bennington, Vermont. Chipotle was constructed in 2024 and consists of a 2,325 square foot building on a 1.1-acre parcel. Chipotle has 14+ years remaining on their lease with four (5), 5-year renewal options. Starbucks, also constructed in 2024, consists of a 2,400 square foot building on a 1.3-acre parcel. Starbucks has 9+ years remaining on their lease with four (4), 5-year renewal options. Both tenants are responsible for their pro-rata share of real estate taxes, insurance and common area maintenance and both leases call for attractive 10% rent increases every five years throughout the primary lease terms and the renewal options providing an increase in revenue and a hedge against inflation. The Properties are situated adjacent to the signalized intersection of Northside Drive and State Highway 7A and is just 0.2-miles from US Route 7. The area forms the primary retail corridor in the beautiful southwestern Vermont town of Bennington. The Properties are within 1.5-miles of Mt Anthony Union High School and are surrounded by shopping centers and national retailers including Walmart Supercenter, Price Chopper, Aldi, CVS, and numerous national restaurants. Additionally, the properties offer excellent frontage and visibility, and both buildings are improved with a drive-thru and outdoor patio, providing ease and convenience for customers.
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.