December 21, 2021 – Matt Nadler of Horvath & Tremblay has successfully completed the sale of the Middletown Plaza in Middletown, New Jersey. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $9,750,000.
The Middletown Plaza is located at 1287 Route 35 in Middletown, New Jersey. The property was constructed in 2021 and consists of an 11,505 square foot retail plaza leased to Mavis Discount Tire, Sissy’s Nails & Spa, Dunkin’, and Lascara, and a 10,000 square foot single tenant building leased to The Learning Experience. The Property enjoys excellent visibility and frontage and is situated on approximately 2.88 acres of land. The Learning Experience, Mavis, and Dunkin’ have attractive rent increases every five years throughout their base terms and at the start of each renewal option. Sissy’s Nails & Spa and Lascara have annual rent increases throughout their base term and renewal options. All of the tenants have Double-Net leases. The property is strategically located along NJ Route 35, the primary commercial corridor traversing Middletown, NJ. The Property enjoys outstanding visibility and frontage and benefits from excellent traffic counts. The Property is 0.4-miles from the area’s two primary grocery stores, 1.4 miles from the area’s elementary and high schools, and 1-mile from the Middletown Train Station.
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.