May 23, 2024 – Jarett Zackman, Michael Talbert and Dan Bernardini of Horvath & Tremblay have successfully completed the sale of an Advance Auto Parts in West Palm Beach, Florida. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,925,000.
Advance Auto Parts is located at 2377 N Military Trail in West Palm Beach, Florida. Constructed in 2005, Advance Auto Parts has been at this location for 19 years and just extended their lease by 10 years, demonstrating their commitment to the site and the market. Advance Auto Parts has 10+ years remaining on their lease with three (3), 5-year renewal options. The lease features attractive rent increases at the start of each of their renewal options. Advance Auto Parts is ideally situated at the intersection of Hibiscus Avenue and N Military Trail (FL Route 809), one of the area’s primary commercial corridors. The Property is close to major area roadways and is surrounded by national retailers driving traffic to the area, and densely populated residential communities and neighborhoods that provide a built-in customer base. Additionally, the Property enjoys convenient access to the Tanger Outlets of Palm Beach, office and industrial clusters, area schools, Keiser University’s flagship residential campus, Palm Beach International Airport, and Downtown West Palm Beach.
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.