Hamburg, NY Jeremy Black of Horvath & Tremblay completed the sale of three retail properties in the state for a total of $5.976 million.
Black completed the sale of a Wendy’s in Hamburg at full asking price, a 5% cap rate. Horvath & Tremblay exclusively represented the seller and completed the transaction at $2.532 million. Wendy’s is located at 521 Camp Rd. The stand-alone building consists of 2,810 s/f on a 1.16-acre lot, and benefits from a drive-thru. Wendy’s has 16 years remaining on a long-term, absolute triple net (NNN) lease that has two, five-year renewal options. The lease calls for 10% rent increases every five years throughout the base term and option periods.
Black and Aaron Huntley also exclusively represented the seller and sourced the buyer in the sale of a WellNow Urgent Care in Oneida, for $1.52 million. WellNow Urgent Care is located at 109 Genesee St. Constructed in 2018, the stand-alone building consists of 3,200 s/f on 0.75 acres. WellNow Urgent Care operates under a 10-year double net lease with three, five-year option periods. The lease features 10% increases every five years throughout the base term and option periods.
Black and Huntley also completed the sale of WellNow Urgent Care in Amherst. The duo exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1.925 million. WellNow Urgent Care is located at 3921 Harlem Rd. in Amherst (Buffalo MSA). The new construction stand-alone building is comprised of 3,500 s/f on a 0.63-acre lot. WellNow Urgent Care has a new 10-year triple net lease featuring 10% rental increases five years throughout both the base term and the three, five-year renewal options.