March 18, 2022 – Steven Schiavello and Patrick Gray of Horvath & Tremblay have successfully completed the sale of an Arby’s in Newton Falls, Ohio. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,613,333.
Arby’s is located at 58 E Broad Street in Newton Falls, Ohio. Arby’s signed a new, 20-year lease at the Property in 2015. The absolute triple-net lease currently has 13+ years of term remaining plus four (4), 5-year renewal options. Both the initial term and renewal terms include an attractive 5% rent increase every five years. The Arby’s lease is corporate guaranteed. The Property is well located along E Broad Street (OH Route 534) and enjoys excellent visibility, frontage and access along one of the area’s primary commercial and commuter corridors, which is home to the area’s retailers and businesses. The Property is situated in the center of the town and is within 1.2-miles of the municipal offices and the Chardon High School and Middle School. The Property is also just 1.5-miles from OH Route 5 and 2.5-miles from Interstate 80 (The Ohio Turnpike).
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.