June 28, 2022 – Matt Nadler and Jeremy Black of Horvath & Tremblay have successfully completed the sale of Sleep Number in Greece (Rochester), New York. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $4,025,000
Sleep Number is located at 2443 West Ridge Road in Greece (Rochester), New York. The stand-alone building was constructed in 2020 and is comprised of a 4,012 square foot building on a 0.62-acre lot. Sleep Number has 8+ years remaining on a double net (NN) lease that has two (2), 5-year renewal options. The lease calls for 10% rent increases every five (5) years throughout the base term and at the start of each renewal option. Sleep Number is strategically located in the primary trade area serving the town of Greece and the northeastern section of the City of Rochester. The Property is an outparcel to The Mall at Greece Ridge, and is adjacent to the interchange of West Ridge Road (Route 104) and Mitchell Road (Route 136/261). The Property has outstanding traffic counts with over 44,000 vehicles per day passing the Property on the heavily travelled West Ridge Road and an additional 8,900 vehicles per day passing on Mitchell Road.
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.