crefeed.com | Massachusetts Home Depot sells for $11.55M

5/15/2009

Massachusetts Home Depot sells for $11.55M

Home Depot

Marcus & Millichap has facilitated the sale of a 132,984-square-foot Home Depot in Bridgewater, Mass., for $11.55 million.

Glen Kunofsky, a senior vice president, Todd Tremblay, a net-leased investment specialist in the firm's Boston office, and Russell Wachtler, a net-leased investment specialist in the Manhattan office, represented the seller in the transaction. Sharon Bands, a vice president in Marcus & Millichap's Manhattan office, represented the buyer.

Located at 1453 Pleasant St., the property is 25 miles south of Boston and 35 miles east of Providence, R.I. It sits on approximately 27 acres. The store opened for business in February 2009 and contains a 28,098-square-foot garden center. The property has a new 30-year absolute triple-net ground lease with no landlord responsibilities and a $75,000 rental increase beginning in year 26. The tenant also has eight, five-year options with a 10 percent rental increase in each option.

Address: 1453 Pleasant St., Bridgewater, Mass

Size: 132,984 square feet

Filed Under: Retail

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