January 18, 2018 – Bob Horvath and Aaron Huntley of Horvath & Tremblay have successfully completed the sale of Citizens Bank and Granite State Pharmacy in Concord, New Hampshire. Horvath & Tremblay exclusively represented the seller and procured the buyer to close the property for a sale price of $1,650,000.
Citizens Bank and Granite State Pharmacy occupy two, free-standing, buildings on a 0.85 acre parcel located at the corner of South Street and Clinton Street in downtown Concord. Citizens Bank occupies a 2,609-square foot building under a triple-net lease (NNN) with over 10-years of lease term remaining. This is a well-established bank branch location with strong branch deposits of $73,204,000. Citizens and its predecessor bank have been operating continuously at this location since the mid-1970’s. Citizens Bank has most recently demonstrated their commitment to this location by exercising their option early.
Granite State Pharmacy occupies an adjacent 2,385 square foot building operating under a ten-year lease with more than 5 years of term remaining. In addition to operating as a pharmacy, Granite State Pharmacy is an approved postal provider by the US Postal Service.
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.