May 22, 2023 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Walgreens (Leasehold Interest) in Shrewsbury, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete this transaction at a sale price of $4,561,290.
Walgreens is located at 525 Boston Post Road E in Marlborough, Massachusetts. Walgreens has been at the Property since its construction in 2005, and recently extended their primary lease term demonstrating their commitment to the site and the market. Walgreens has more than 13 years remaining on an absolute triple-net lease with six (6), 5-year renewal options. The Walgreens lease runs coterminous with the ground lease and is structured so Walgreens pays both their primary leasehold rent and the associated ground rent direct to the respective landlords. The Property is situated on a highly visible corner parcel at the signalized intersection of Harrington Avenue and Boston Turnpike (MA Route 9), the area’s primary commercial corridor. Walgreens benefits from outstanding visibility and frontage with two points of access and is located within 0.5-miles of three area grocery stores and 1.3-miles from the UMass Memorial Medical Center (Hospital). The Property is extremely well located in the heavily trafficked southwest side of Shrewsbury and is less than 2-miles from Interstate 290 and 3-miles from downtown Shrewsbury and Worcester’s Central Business District.
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.