Auburn CVS and Applebee’s Under New Ownership via H&T $6.4M Transaction

AUBURN — A high-visibility commercial corridor in Auburn has a new owner after a dual-tenant retail property featuring a CVS and an Applebee’s sold for $6.4 million.

The properties, located at 676 and 680 Southbridge Street, consist of two single-tenant buildings situated on individual tax parcels. Horvath & Tremblay brokered the deal, with agents Bob Horvath, Todd Tremblay, Mark Taylor, and Jack Laurendeau representing the undisclosed seller and securing the buyer.

Both corporate tenants operate under stable, long-term net leases with just over three years remaining on their current terms. CVS occupies its building under a triple-net (NNN) agreement that includes four subsequent five-year renewal options. Meanwhile, Applebee’s operates on an absolute NNN ground lease with two five-year options remaining. Both tenant agreements feature built-in rent bumps at the start of each renewal option, providing the new owner consistent income growth.

The heavily trafficked retail site sits at a signalized intersection with Faith Avenue and Goulding Drive. Its position near the busy interchange of Interstate 290 and the Massachusetts Turnpike (I-90) provides immediate access to major regional markets, including Worcester and Boston.

The properties sit within Auburn’s primary commercial artery, anchored by major national retailers such as BJ’s Wholesale Club, Walmart Supercenter, and the Auburn Mall, which drive steady consumer traffic to the immediate trade area.

Mark Taylor

Jack Laurendeau

Todd Tremblay

Bob Horvath