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Plymouth IHOP Sold For $2M

Sep 8, 2014 | Reprints | Unlock Link | Print

IHOP-Plymouth_MA

The IHOP property on Long Pond Road in Plymouth has been sold to Finite Properties LLC of Lynnfield for $2 million.

The franchisee signed a 15-year lease in 2010, which includes two five-year options and 10 percent rental increases every five years. The property is located on an outparcel in the 425,000-square-foot Grove at Plymouth Shopping Center, which includes such tenants as TJ Maxx, HomeGoods and Sports Authority.

Bob Horvath and Todd Tremblay of Marcus & Millichap Real Estate Investment Services represented the seller, Reverse Plymouth LLC, and the buyer, Finite Properties’ Joseph Motzkin.

Commercial