With ‘Rare and Attractive’ Rent Bumps, Horvath&Tremblay Structure a $4M+ CVS Deal in Dover NH

DOVER — Offering “rare and attractive rent increases,” the Horvath & Tremblay team of Bob Horvath, Todd Tremblay, Aaron Huntley and Jack Laurendeau structured the exclusive sale of CVS in Dover, New Hampshire. H&T represented the seller and procured the buyer to complete the transaction for $4,180,475.

The CVS retail is located at 181 Silver Street. CVS has 14+ years remaining on its Absolute NNN Ground Lease with a five (5)- 5-year renewal options. The lease calls for attractive rent increases throughout the primary lease term and at the start of each of their renewal options. The Property is situated within Silver Square, a five-unit mixed-use condominium development positioned at the intersection (rotary) of Silver Street (NH Route 9), Knox Marsh Road, and the Spaulding Turnpike on ramp.

In addition to CVS, Silver Square is home to the Residence at Silver Square, a 76-unit, 55+ Independent, Assisted, and Memory Care Living Facility, the Garrison Hotel & Suites, a 66-room boutique hotel that is part of the Ascend Hotel Collection, and a freestanding Dunkin’ situated at the entrance to the development. Silver Square also contains a fifth unit that has not yet been developed. The Property is adjacent to the Spaulding Turnpike, the area’s primary commuter highway and enjoys excellent signage and visibility along the heavily traveled roadway. CVS is 1 mile from Downtown Dover, with convenient access to residential communities, area schools, municipal offices, the area’s light industrial parks, and the Wentworth-Douglass Hospital.