September 15, 2023 – Brad Canova of Horvath & Tremblay has successfully completed the sale of a Walgreens in Tewksbury, Massachusetts. Horvath & Tremblay exclusively represented the buyer to complete this transaction at a sale price of $4,550,000.
Walgreens is located at 2341 Main Street in Tewksbury, Massachusetts. The Property was constructed for Walgreens in 1999 and they have 9 years remaining on an absolute triple-net lease with ten (10), 5-year renewal options. The Property is situated on a highly visible parcel at the signalized intersection of South Street and Main Street (MA Route 38), the area’s primary commercial and commuter corridor. Walgreens is located in the southern end of Tewksbury and is the primary retailer serving the area. The Property is surrounded by densely populated residential neighborhoods that provide a built-in customer base. Walgreens benefits from excellent frontage and visibility and sees approximately 20,000 vehicles per day at the intersection of South and Main Streets. The Property also enjoys convenient access to Interstate 93, which is 3-miles away.
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.