Horvath & Tremblay
Tonawanda, NY Jeremy Black, of Horvath & Tremblay, has completed the sale of The Vitamin Shoppe and a Citgo Gas in Sidney. The broker of record for the transactions was LLD Enterprises, LLC.
Closing at a sale price of $1.618 million, the Vitamin Shoppe fully occupies the 4,329 s/f property located along Niagara Falls Blvd. The Vitamin Shoppe recently exercised their first of two 5-year options which included a 10% rental increase that began in January 2017. The property is located at a signalized intersection with visibility along one of the primary retail corridors traveling through the city which boasts daily traffic counts in excess of 32,900 vehicles per day.
Directly across the street from the property is the Boulevard Mall, a 336,000 s/f regional enclosed legacy mall that sits on a 22 acres parcel. It’s anchored by two Macy’s stores, JCPenny, a two-story Sears, Michael’s, H&M, and a new 55,000-square foot Dick’s Sporting Goods. Additional national tenants in the area include: Wegman’s, Tim Hortons, Mattress Firm, Ashley Home Furniture, Chili’s, Burger King, TJ Maxx, HomeGoods, BJ’s Wholesale Club, Walmart, and many others. Horvath & Tremblay exclusively represented the seller and procured the buyer for the sale.
Black also represented the seller and procured the buyer to close the sale of Citgo Gas at a price of $1.06 million. Citgo Gas is located along Union St. in Sidney. The property is positioned with visibility and direct street frontage. Citgo Gas has over seven years of lease term remaining on the original 10-year triple net lease with annual rental escalations scheduled throughout the remaining term of the lease.
Located across the street from the property is the Amphenol Aerospace headquarters. This 307,000 s/f facility houses 1,000 employees and is one of the largest manufacturers of interconnect products in the world for the Military, Commercial Aerospace and Industrial Markets. Citgo Gas is located near national tenants including NBT Bank, Rite Aid, Sunoco, Peebles, Family Dollar and Rent-A-Center.
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.
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