March 13, 2023 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of the grocery anchored Center at Hudson in Hudson, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $21,900,000 at a 6.35% Cap Rate.
The Center at Hudson is located at 10 Technology Drive in Hudson, Massachusetts. The Property consists of a free-standing 58,266 square foot Stop & Shop and a 26,339 square foot inline strip center leased to a mix of national and local retailers. Stop & Shop has been at this center since 1990 and recently extended their lease, demonstrating their commitment to the site and the market. Stop & Shop has 10+ years remaining on their lease and features an attractive $0.50 per square foot increase in 2028. The Center at Hudson features a stable, internet-resistant rent roll with 79% of the gross revenue derived from national credit tenants. The Center at Hudson is situated on a highly visible corner parcel at the signalized intersection of Washington Street (MA Route 85) and MA Route 85C/Technology Drive. Washington Street (MA Route 85) is the area’s primary commercial and commuter corridor, and MA Route 85C connects with the junction of Interstates 495 and 290 1.4-miles west of the Property. The Property enjoys outstanding visibility and frontage and benefits from four points of access. The Center at Hudson shares the four-way intersection with a 99 Restaurant, the newly constructed Artisan at Hudson, a 149-unit retirement community, and a dark Walgreens. The Property further benefits from its proximity to a Walmart Supercenter, Shaw’s and numerous other national retailers drawing traffic to the area.
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.