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July 2021

Recently Sold – CVS Pharmacy, Springfield, OH

Exterior view of a recently sold CVS Pharmacy store in Springfield, OH at dusk, featuring prominent signage and brick walls.

Thomas Company is pleased to announce the recent sale of a CVS retail asset in Springfield, OH totaling +/- 9,663 square feet. The list price was $2.68 million. The asset was structured with long-term fixed-rate CTL financing. The buyer was in a 1031 exchange and was attracted to the flexible nature of the investment structure to fulfill their specific exchange constraints.

Highlights

  • ZERO-CASH-FLOW STRUCTURE: Long-term, 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.

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