Depew, NY Bob Horvath, Todd Tremblay and Jeremy Black, of Horvath & Tremblay, have completed the sale of two auto parts stores in upstate.
Horvath & Tremblay exclusively represented the seller of Mavis Discount Tire located at 6490 Transit Rd. The sale price was $1.186 million with a cap rate of 6.7%.
Mavis Discount Tire fully occupies the 4,500 s/f building. The property is accessible at exit 49 off of I-90.
Mavis Discount Tire signed a new 15-year double net lease in December 2015 with three five-year options and rental escalations scheduled throughout the base term and option periods. The broker of record for the transaction was LLD Enterprises, LLC.
Black also represented the buyer of a free standing Advance Auto Parts located at 2701 Military Rd. in Niagara Falls. The property closed at a sale price of $1.35 million. Advance Auto Parts fully occupies the 9,800 s/f building located at the intersection of Military Rd. and Packard Rd. The property is near many national retailers and restaurants as well as Niagara Falls State Park, casinos, international bridges and other local attractions.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the U.S. Their 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.