NEW ENGLAND RETAIL PROPERTIES, INC. SELLS TRACTOR SUPPLY AND O’REILLY AUTO IN JOHNSTON, RHODE ISLAND
New England Retail Properties, Inc. has announced the sale of the Tractor Supply/O’Reilly Auto development located at 2750 Hartford Avenue (Route 6) in Johnston, Rhode Island for a price of slightly more than $7 million. The property was sold to a combination of groups led by the Columbia Delaware Trust. The tenants are both investment grade and drew significant interest from several groups. Matthew J. Darling, Vice President at NERP handled the negotiations between the Seller and Purchaser.
The team at New England Retail Properties acquired and developed the Tractor Supply store in 2013 demolishing the former Johnston Motel to construct the Tractor Supply and subsequently worked with Miles Gatland in securing and constructing the O’Reilly Auto in 2016.
Tractor Supply has over 1,600 stores in 49 states. They are focused on fulfilling the lifestyle needs of recreational farms, ranchers, tradesmen and small businesses as well as those fulfilling the lifestyle needs of recreational farmers, ranchers, tradesmen and small businesses as well as those who enjoy the rural lifestyle.
O’Reilly Auto Parts is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States, serving both professional service providers and do-it-yourself customers. From its founding in 1957 as a single store in Missouri to a business consisting of 4,935 stores in 47 states and more than 75,000 team members.
New England Retail Properties, Inc. was the sole real estate broker involved in this transaction. New England Retail Properties, Inc., located in Wethersfield, Connecticut is a commercial retail development and brokerage firm founded in 1987. They have exclusively represented and developed over 4 million square feet of retail space, working alongside a number of national retail tenants in all major markets of New England and parts of New York. The firm specializes in Retail Shopping Center leasing, investment sales, tenant representation and development. As a member of Site Source, a national brokers network, NERP has affiliated companies throughout the country with coast to coast coverage to provide the highest level of client service in a consistent and professional manner.
For more information on this and other properties represented by New England Retail Properties, Inc., visit our website at www.newenglandretail.com or call (860) 529-9000.