Foxborough Citizens Bank Sold for $2.375M; Horvath & Tremblay Exclusive 8+ Year Remaining Deal

Foxborough — Bob Horvath, Todd Tremblay, Jack Laurendeau and Matt Siebert of Horvath & Tremblay completed the sale of the Citizens Bank in Foxboro, Massachusetts. The NNN Expert team exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,375,000.

Citizens Bank is located at 4 Cocasset Street in Foxboro, Massachusetts. Citizens Bank signed a new 10-year lease at this Property in 2023 and consolidated operations and deposits from two other locations (branches within the Stop & Shops in Foxboro and Plainville, MA) into this downtown Foxboro location. Citizens Bank spent more than $1 million, and the developer spent an additional $300,000 on improvements and build-out costs at the premises.

The Bank lease has 8+ years remaining on the primary lease term followed by three (3), 5-year renewal options. The lease features attractive rent increases at the start of each renewal option period. The Property is situated on a highly visible corner parcel at the intersection of Cocasset Street and Mechanic Street, along the town green.

Citizens Bank enjoys an excellent downtown location and is within 1-mile of the town’s municipal offices and the town’s elementary, middle, and high schools. Additionally, the Property is 2.3-miles from Interstate 95, and 2.8-miles from Patriot Place, a 1.3 million square foot lifestyle center, and Gillette Stadium, home of the New England Patriots.

Jack Laurendeau

Matt Siebert

Todd Tremblay

Bob Horvath