July 8, 2016 – Horvath & Tremblay, has successfully procured the buyer to complete the sale of ConvenientMD in Nashua, NH. Horvath & Tremblay worked exclusively with a local 1031 exchange buyer to fulfill his exchange requirement and closing the property at a sale price of $3,100,000, a 6.5% cap rate.
Newly constructed in 2015, this 5,044-square foot urgent care clinic is situated on a 0.54 acre parcel along Amherst Street (Route 101A). ConvenientMD signed a new 15-year double net (NN) lease in December 2015 which includes (2) ten year options with rental escalations scheduled in the base term and option periods. The property is prominently located with high visibility at the signalized intersection of Amherst Street and Nim-Cor Drive and provides convenient access to the nearly 43,000 vehicles that travel along Route 101A daily. Route 101A serves as a major east/west retail corridor traveling through Nashua attracting shoppers from the local and regional area. Located along this two mile stretch of Amherst Street are national tenants including: Home Depot, Big Lots, Jo-Ann Fabrics, Planet Fitness, Marshalls, Party City, Home Goods, Market Basket, Starbucks, Chili’s Grill & Bar, Uno Pizzeria & Grill, Golds Gym, Subway, Firestone and Dunkin’ Donuts. Located across the street from ConvenientMD is Village Center, a Walgreens and PetSmart anchored retail center with adjacent national tenants including: TJ Maxx, Target, Panera Bread, and Texas Roadhouse.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Recently recognized by Globe Street and Real Estate Forum as one of the “Top 20 Retail Sales Brokers” in the Industry, our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. We have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges.