Horvath & Tremblay Finalizes Sale Of Royal Farms In Laurel MD For $4.87M

The transaction involved a retail asset located at 6901 Van Dusen Road, 12103 Jefferson Avenue & 2304 Jefferson Davis Highway, comprising multiple markets including Laurel, MD, Newport News, VA, and Sanford, NC. The property was sold for a total price of $13,367,257. It includes a Royal Farms established in Laurel, MD, which features an Absolute NNN ground lease with over 13 years remaining and a provision for a 10% rent increase every five years. The property was built in 2019.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $13,367,257
• Address: 6901 Van Dusen Road, 12103 Jefferson Avenue & 2304 Jefferson Davis Highway
• Market: Laurel, MD, Newport News, VA & Sanford, NC
• Sale Price of Royal Farms: $4,867,257
• Brokers: Kyle Danielson & Austin Smith - Horvath & Tremblay

The deal was represented by brokers Kyle Danielson and Austin Smith from Horvath & Tremblay, who facilitated the transaction process for the involved parties. The property involved a notable lease structure, ensuring favorable rental terms for the buyer going forward.