February 29, 2024 – Sean Mullaney, Aaron Huntley, Bob Horvath, and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Mega Plaza in Cranston, Rhode Island. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,100,000.
Mega Plaza, a three-tenant center located at 567 Reservoir Avenue in Cranston, Rhode Island. Mega Plaza is comprised of an 8,068 square foot building and is positioned on a 0.34-acre corner parcel. The Property benefits from outstanding historical occupancy and offers a stable and secure income stream. Mega Plaza is 100% occupied by three tenants that serve the needs of the surrounding community. Mega Plaza is well-located along Reservoir Avenue (RI Route 2), one of the area’s primary commercial and commuter corridors. Positioned in a densely populated neighborhood in the heart of Cranston, Mega Plaza offers convenient access to an appealing array of restaurants, bars, retailers, entertainment, and parks. Cranston offers a vibrant mix of local favorites as well as nationally recognized retailers and restaurants, such as Walmart, Stop & Shop, Whole Foods, Shaw’s, Dave’s Fresh Market, Ocean State Job Lot, CVS, Dollar General, Starbucks, Wendy’s, McDonald’s, and Dunkin’. The Property is positioned along the municipal bus line with a stop directly in front of the Property and offers convenient access to area highways (RI Routes 10 and 12, Interstates 95 and 295, and US Routes 1 and 6). Cranston is bordered to the north by the densely populated city of Providence and is 3.5-miles from the 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.