May 25, 2022 – Chris King of Horvath & Tremblay has successfully completed the sale of Family Dollar in Galveston, Texas. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,386,263.
Family Dollar is located at 2203 Broadway Avenue J in Galveston, Texas. Family Dollar has been at this location for over sixteen years (since 2006) and recently extended their lease demonstrating a commitment to the location and the market. Family Dollar has 6+ years of term remaining on its double net lease with three (3), 5-year renewal options. The lease features a 10% rent increase at the start of each renewal option. The Property is strategically positioned along Broadway Avenue J (Texas State Highway 87) which is the primary commercial thoroughfare in Galveston and runs through the center of the city. The Property is less than one mile from the Port of Galveston Cruise Terminal and the Galveston Island Historic Pleasure Pier. Galveston is a densely populated island city and home to Galveston Bay, which serves as the gateway to the Port of Houston, the second busiest port in the U.S. in total tonnage.
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.