October 16, 2020 – Joe Desalvo, Robert Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Dollar Tree in Worcester, Massachusetts. Horvath & Tremblay exclusively represented the Seller to complete the transaction at a sale price of $1,075,000.
Dollar Tree is located at 286 Pleasant Street in Worcester, Massachusetts. The stand-alone building consists of 7,818 square feet and sits on a 0.36-acre lot. Dollar Tree signed a new 7-year lease in 2018 and has 5 years remaining on a modified gross lease that has three, 5-year renewal options. The lease calls for $0.50 per square foot rent increases at the start of each option period. Dollar Tree is situated on a corner parcel at the signalized intersection of Pleasant Street and Hawley Street. The Property enjoys excellent visibility on Pleasant Street, a primary east-west artery travelling through the Densely populated city of Worcester, the second largest city in New England. The location offers access to exceptional demographics and a convenient location for area residents. More than 36,000 people live within 1-mile of the property.
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.