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Brokerage
Posted: November 29, 2024
Horvath & Tremblay sells two retail properties in New Hampshire for $9.05 million
Franklin, NH Bob Horvath and Todd Tremblay of Horvath & Tremblay have completed the sale of a new construction Irving Gas & Convenience Store at 901 Central Rd. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the $6.75 million transaction.
The property consists of a 4,350 s/f freestanding building with 10 fueling stations on a 1.68-acre corner lot.
Irving Gas Station & Convenience Store opened in December of 2023 and Irving Oil has 19+ years remaining on their triple net (NNN) lease with four, 5-year renewal options. The corporate ground lease calls for 10% rent increases every five years throughout the primary lease term and at the start of each renewal term.
Aaron Huntley, Bob Horvath and Todd Tremblay also completed the sale of a Starbucks at 68 Crystal Ave. in Derry. Horvath & Tremblay represented the buyer in the $2.3 million sale. The Starbucks store was completed in 2022 and features a 2,093 s/f building with a patio and drive-thru. Starbucks has 8 years remaining on their lease with four, 5-year renewal options. The lease features a 10% rent increases every five years throughout the primary lease term and at the start of each of their renewal options. Starbucks is situated adjacent to the intersection of Folsom Rd. and Crystal Ave.
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