May 2022

Recently Sold – CVS Pharmacy Leasehold

Signage for a CVS Pharmacy leasehold with a drive-thru, set against a backdrop of a clear blue sky and a building with several parked cars.

Thomas Company is pleased to announce the closing of a CVS Pharmacy leasehold located in Clinton, Connecticut. The property recently opened in 2019 and totals over 13,000 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 properties 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.