Just Closed – Long Term CVS in California
DATE April 28, 2020 / AUTHOR
CATEGORY Investing 101, Just Sold
When one of our repeat clients called us to find a long term NNN drugstore, we knew we had to dig deep. Finding above average risk-adjusted returns on long term drugstores has become much more cumbersome in the last few months. After searching for a few weeks, we identified the investment and realized there will be substantial competition. After a few weeks of LOI negotiations, we managed to secure the transaction for our client.
Client was happy with the outcome given that we were able to iron out the few transactional snags that came up on the way and delivered an investment grade CVS with 17 years on the term and zero landlord responsibilities.
- Long Term Lease – 17 Years
- Investment Grade Tenant
- Oversized Parcel
- Located in a Opportunity Zone
- Los Angeles MSA
- Highly Visible Corner
- Signalized Intersection