August 2022

Recently Sold – CVS, Belle Mead, NJ

Exterior view of a CVS Pharmacy leasehold closing in Belle Mead, New Jersey, featuring a large entrance with glass doors and two smaller storefronts under a cloudy sky.

Thomas Company is pleased to announce the closing of a CVS Pharmacy leasehold located in Belle Mead, New Jersey. The property recently opened in 2019 and totals over 13,200 SF in size.

The property was offered free and clear of debt, allowing investors to purchase on an all-cash basis. The asset was structured with an absolute triple-net bondable lease with no landlord responsibilities.

Key Highlights

  • CVS Health Corporation (S&P: BBB, NYSE: CVS), together with its subsidiaries, is one of the largest pharmacy health providers in the United States, operating more than 9,900 retail drugstores in the United States, Puerto Rico, and Brazil.
  • The property is situated in an established location along high traffic roadways. In addition, the property benefits from excellent demographics with strong household income and a mature population.
  • The property is subject to an absolute NNN lease where the tenant has responsibility for all repair and maintenance of the Property, and the Landlord has no responsibility.