September 30, 2022 – Bob Horvath, Todd Tremblay and Matt Nadler of Horvath & Tremblay have successfully completed the sale of the Harbor Freight in Yonkers, New York. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $9,285,000.
Harbor Freight is located at 587 Tuckahoe Road in Yonkers, New York. Harbor Freight signed a new fifteen (15) year lease with five (5), 5-year renewal options. The lease features 10% rent increases every five years throughout the primary term and at the start of each of the five-year renewal options. The Property has been completely renovated for Harbor Freight Tools and was completed in the summer of 2022. The Property is positioned along Tuckahoe Road, a primary roadway in the densely populated city of Yonkers. Located at the intersection of Tuckahoe Road and Salisbury Road the Property enjoys outstanding frontage and visibility with three points of access. The location sees more than 28,400 vehicles per day. The Property is 0.2-miles from Central Park Avenue (NY Route 100), 0.3-miles from the Sprain Brook Parkway, 0.7-miles from Interstate 87, 0.7-miles from the Bronx River Parkway and 1.4-miles from the Saw Mill River Parkway.
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.