May 13, 2022 – Joe DeSalvo, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of a Rite Aid in Franklin, New Hampshire. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $3,025,000.
Rite Aid is located at 951 Central Street in Franklin, New Hampshire. The stand-alone building contains 11,200 square feet, including a drive through on a 1.78-acre parcel. Originally developed in 1998, Rite Aid recently executed a lease extension demonstrating their commitment to the site and the market and has 4+ years remaining on an Absolute NNN Lease. Additionally, Rite Aid has two (2), 5-year renewal options, each with an attractive 5% rent increase. Rite Aid is located along Central Street (US Route 3), Franklin’s primary retail corridor and benefits from excellent signage, a drive-thru, and easy access from a signalized intersection, with two points of entry and egress along Central Street (US Route 3). The Property shares the signalized intersection with Hannaford Supermarket and is surrounded by national retailers. The Property is within 1.5-miles of the Winnisquam Regional High School, Franklin High School, and the Franklin Regional Hospital. The Property is also less than 4-miles from the Tanger Outlets of Tilton and Interstate 93.
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.