July 18, 2023 – William Succoso, Steven Schiavello and Patrick Gray of Horvath & Tremblay have successfully completed the sale of Sloane Station in Toronto, Ohio. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,650,919.
Sloane Station is located at 1830-1860 Franklin Street in Toronto, Ohio. Sloane Station is a retail center that consists of a 36,442 square foot building leased to Riesbeck’s Market (Ground Lease) and Air Excellence with an 8,650 square foot vacancy, a 13,400 square foot strip center leased to Family Dollar, Subway and Weirton Medical Center, and two free-standing single tenant buildings leased to McDonald’s (Corporate Ground Lease) and Amoco/Coen Markets (Ground Lease). Riesbeck’s Market has been at this location since 2011 and has 8 years remaining on their long-term triple net ground lease with two (2), 10-year options, McDonald’s has been at this location since 1994 and has 1+ years remaining on their long-term ground lease with six (6), 5-year options, Family Dollar has been at this location since 2000 and has 2+ years remaining on their lease with two (2), 5-year options, Amoco/Coen Market has been at this location since 1997 and has 4+ years remaining on their ground lease with five (5), 5-year options, Subway has been at this location since 2003 and has 5 years remaining on their lease with three (3), 5-year options. Sloane Station has its own dedicated traffic light along Franklin Street and enjoys outstanding frontage and visibility with excellent signage and five points of access on a large 8.28-acres of land. Sloane Station is situated along Franklin Street, the area’s primary commercial corridor, and is just seconds from the intersection with OH Route 7 (the Ohio River Scenic Byway). The Property represents the area’s primary shopping destination and benefits from limited competition as the next closest full-service grocery store is more than 8-miles away. Additionally, Sloane Station is adjacent to Walgreens, the area’s only nationally branded pharmacy (the next closest is more than 8-miles away), and the Toronto Junior and Senior High Schools.
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.