4A —December 24, 2021 - January 20, 2022 — M id A tlantic Real Estate Journal


M id A tlantic R eal E state J ournal M Transactions located inNJ&West VA totaling $21,054,019 Horvath&Tremblay brokers sale of four retail properties ID ATLANTIC — Matt Nadler and Michael Lombardi

of Horvath&Tremblay have completed the sale of a Wawa in Plainfield, NJ. Horvath & Tremblay represented the sell - er to complete the transaction at a sale price of $8.8 million. Wawa is located at 1462 South Ave. in Plainfield, NJ. The property consists of a 5,051 s/f building and a gas station and convenience store on 1.77 acres of land. Wawa has a new 20 year, corporately backed, ground lease (Abso - lute NNN) with six, 5-year options. The lease features 10% rent increases every five years beginning in year 11 of the lease and continuing throughout both the primary term and the option periods. Bob Horvath and Todd Tremblay of Horvath & Tremblay have completed the sale of CVS in Charles Town, WV. Horvath & Tremblay rep - resented the seller to complete this transaction at a sale price of $5,659,019. CVS is located at 328 W Washington St. in Charles Town, West VA. Horvath & Tremblay’s Mi - chael Lombardi, S teve Schia- vello , and PatrickGray have facilitated the sale of a Dollar

1462 South Ave., Plainfield, NJ

creases at the start of each renewal option. David McLaughlin, Steve Schiavello and Patrick Gray of Horvath & Tremblay have completed the sale of CVS Pharmacy in La Plata, Mary - land. Horvath & Tremblay represented the buyer in this transaction at a sale price of $4,445,000. CVS Pharmacy is located at 6260 Crain High - way in La Plata, Maryland. The stand-alone building was constructed in 2003 and re - modeled in 2019 and contains 10,889 square feet, including a drive through. The corporate lease has 14+ years remain - ing on an Absolute Triple-Net Lease with an additional ten (10) 5-Year Renewal Options. This lease features a rare 34% rent increase at the start of the first option period. MAREJ 4900 Wellington Ave., Ventnor City, NJ

General and Bank of America ATM in Ventnor City, NJ. Horvath & Tremblay repre - sented the seller to complete the transaction at a sale price of $2,150,000. The Dollar General and Bank of America ATM are lo - cated at 4900 Wellington Ave. in Ventnor City, NJ. The 9,900 s/f building was renovated and remodeled for Dollar General in 2014. Dollar General took possession of the premises and their 10-year, corporate lease, commenced on September 1, 2014. The double net lease has 3+ years of primary term and two, 5-year renewal options. The Dollar General lease calls for 10% rent increases at the start of each renewal option. The Bank of America lease also calls for 10% rent in -

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