October 6, 2022 – Matt Nadler, Hannah Merson, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of The Shops at Kelly Road in Vernon, Connecticut. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $5,825,000.
The Stores at Kelly Road are located at 378 Kelly Road in Vernon, Connecticut. The multi-tenant retail center is comprised of 25,031 square feet of gross leasable area on a 1.76-acre parcel of land. The Property is currently 100% leased to eight (8) tenants, with a diverse tenant profile featuring service tenants and retailers serving the immediate area. The property is anchored by Goodyear and Spice Town and the majority of the leases in the center are double net with the tenants reimbursing the majority of the operating expenses. The Property is situated at the signalized intersection of Kelly Road (CT Route 30) and CT Route 83, the area’s primary commercial and commuter corridor. The Property has outstanding frontage and visibility and is positioned seconds from Interstate 84. The area is home to two large grocery anchored shopping centers (Shop Rite and Stop & Shop) that are home to countless retailers and nationally branded restaurants that drive traffic to the area.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in 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.