June 21, 2021 – Hobart Hare of Horvath & Tremblay has successfully completed the sale of the Horizon Business Center in Memphis, Tennessee. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $10,750,000.
The Horizon Business Center is a two-building, healthcare-anchored, Class B office flex portfolio located at 2525 and 2565 Horizon Lake Drive in Memphis, Tennessee. The two-building portfolio is comprised of 135,003 square feet. An oasis in the city of Memphis, the Property is nestled away from the day-to-day noise, yet close enough for convenient access to all of its surrounding amenities. Having a combined occupancy of 87%, and recent sizable tenancy stemming from the healthcare industry, the Property attracts tenants who wish to be surrounded by every imaginable amenity, yet have their own quiet corner to do their work. The Horizon Business Center is comprised of six (6) tenants with a weighted average of 6.04 years remaining on their leases.
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.