Black of Horvath & Tremblay brokers three retail sales: $5.976m; Collaborated with Huntley for WellNow Urgent care deals

September 08, 2020 - Front Section
Jeremy Black

 

Aaron Huntley

 

Hamburg, NY Jeremy Black of Horvath & Tremblay completed the sale of three retail properties in the state for a total of $5.976 million.

521 Camp Road - Hamburg, NY

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.

109 Genesee Street - Oneida, NY

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.  

3921 Harlem Road - Amherst, NY

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.