Recently Sold - CVS, Fort Worth, TX
Thomas Company is pleased to announce the recent sale of a CVS in Fort Worth, Texas. The asset totals over 9,000 square feet with over 22 years remaining on the term. The list price was approximately $6.6 million.
Key Highlights
• This property is situated in a high growth location within one of the top metropolitan areas in the United States (Dallas-Fort Worth Metroplex). In addition, the property benefits from excellent demographics with strong established household income and large populations.
• 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.
Recently Sold - CVS Portfolio
Thomas Company is pleased to announce the recent sale of a five-property CVS retail portfolio with locations in Texas, Virginia, California, Alabama, and New Jersey. The portfolio totaled approximately 61,506 square feet. These are all new CVS locations, each having opened in 2019 or 2020, and the portfolio offers a weighted average remaining lease term of over 20 years. The portfolio was offered free and clear of debt and are structured with absolute triple-net leases with no landlord responsibilities.
Recently Sold - CVS, Lakeland, FL
Thomas Company is pleased to announce the recent sale of a CVS in Lakeland, Florida. The asset totals 11,945 square feet with 12 years remaining on the term. The list price was approximately $6 million.
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 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.
Thomas Company Net Lease Relocates to Sun Valley Idaho
After nearly a decade in Seattle, Thomas Company is pleased to announce its relocation to Sun Valley, Idaho. The company has also expanded its team with new employees in Boise joining other remote colleagues both nationally and internationally.
After a record year in 2020 while working entirely remote, Thomas Company has successfully transitioned to a hybrid work environment while continuing to achieve results for its clients and driving corporate growth. The firm has attracted and retained top talent in the commercial real estate industry while offering employees lifestyle flexibility. The rich talent pool in and around Sun Valley will continue to support the company’s expansion in the coming years.
The new Sun Valley office is led by founder Jeffrey Thomas and director Ben Smith. “The net lease sector continues to thrive, with Thomas Company posting record breaking sales in 2020 and after closing nearly $300 million in the first part of the year, we are on track for an even bigger 2022.” Thomas noted. “Ben and I look forward to building on this foundation of success here in Sun Valley, with our entire team continuing to help clients identify and close on exceptional investment opportunities nationally.”
Thomas Company was founded in Newport Beach, California and moved to Seattle, Washington in 2013. The firm has a national reach and specializes in the disposition of triple net leased investments. Since 1997, Jeffrey Thomas and team have sold over $6.9 billion in assets, totaling more than 838 properties. With its continued growth, the firm is actively seeking individuals located in Sun Valley, Boise and nationally to join the team.
Recently Sold - CVS, Louisville, KY
Thomas Company is pleased to announce the closing of a CVS Pharmacy leasehold located in Louisville, Kentucky. The property recently opened in 2019 and totals over 9,700 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.
LA Recently Sold - CVS, Moss Bluff, LA
Thomas Company is pleased to announce the recent sale of a CVS Pharmacy located in Moss Bluff, Louisiana. The asset was structured with long-term fixed-rate CTL financing. The transaction underscores the market’s ongoing demand for zero-cash-flow product. The buyer was attracted to the flexible nature of the investment structure and the easily assumable financing.
Key Highlights
- ZERO-CASH-FLOW STRUCTURE: Long-term, easily assumable, fixed-rate CTL financing.
- MANAGEMENT-FREE OWNERSHIP: The Tenant has executed a 25-year bondable net lease (NNNN) with no Landlord responsibilities whatsoever. The Tenant is responsible for all management and maintenance of the asset.
- PASSIVE LOSSES: The property provides the owner with significant passive losses (depreciation and interest expense) to help offset unsheltered cash flow from other real estate investments.
Recently Sold - CVS, Belle Mead, NJ
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.
Recently Sold - Olympia Park Ground Lease, Louisville, KY
Thomas Company is pleased to announce the recent sale of 99-year ground lease under a Class-A Office building in Louisville, Kentucky. The Property was structured as a Zero Cash Flow investment allowing the purchaser to utilize the Paydown Readvance feature to cash out their excess equity in their 1031 exchange. The property closed as an off-market transaction.
Highlights
- CLASS-A OFFICE : The 137,486 SF building was developed in 2019 in one of the most affluent areas of Louisville, with a diverse high-credit tenant roster including T-Mobile, GSA, Weiland, and RW Baird.
- ZERO-CASH-FLOW: Long-term, easily assumable, fixed-rate CTL financing.
- LONG-TERM PASSIVE OWNERSHIP: The Leasehold Tenant executed a 99-year absolute NNN with no Landlord responsibilities whatsoever and attractive annual rent escalations.
Recently Sold - CVS, Bath, ME
Thomas Company is pleased to to announce the recent sale of a well-located CVS store in Bath, ME totaling +/- 11,945 square feet of retail space. The property was offered as a highly leveraged zero-cash-flow investment, with an attractive, assumable loan that fully-amortizes prior to the expiration of the lease. The property provides an investor with significant passive losses to help offset unsheltered cash flow from other real estate investments.
Recently Sold - CVS Portfolio
Thomas Company is pleased to announce the recent sale of a four-property CVS retail portfolio – two locations in Maryland and two in Texas. The portfolio totaled approximately 52,423 square feet.
These are all new CVS locations, each having opened in 2019 or 2020, and the portfolio offers a weighted average remaining lease term of over 23 years. The portfolio was offered free and clear of debt and are structured with absolute triple-net bondable leases with no landlord responsibilities.