September 23, 2019 – Peter Butler, Bob Horvath, and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Citizens Bank in Bedford, New Hampshire. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $5,900,000.
The Citizens Bank building is located at 91 South River Road in Bedford, New Hampshire. The stand-alone brick building is located at a signalized intersection and is a pad site to the Bedford Mall which is anchored by Kohl’s, Marshalls and Starbucks. Citizens Bank has 15 years of lease term remaining plus three, 5-year renewal options. The lease includes 10% rent escalations every five years throughout the current term and three (3) 5-Year option periods. Additionally, this Citizens Bank was a consolidated branch and has deposits in excess of $215 million.
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.