CVS Pharmacy

Investment Overview

With approximately 8 years remaining on an absolute NNN lease, this deal features attractive 10% rental escalations every 5 years through the option periods. This is a corporate guaranteed lease from an investment grade tenant (S&P rated BBB), located directly on Dixie Highway, the primary retail corridor through Waterford with high combined daily traffic counts of 44,000 VPD.

Investment Highlights

• 25 year corporate absolute NNN lease with approximately 8 years remaining with no rent holiday
• CVS is an investment grade credit tenant (S&P Rating: BBB) and the nation’s largest drugstore with more than 9,900 locations in 49 states
• Lease features attractive 10% rental escalations every 5 years throughout the option periods
• Located at the intersection of Dixie Highway, a major thoroughfare through Waterford, and Sashabaw Road
• Combined daily traffic counts at the intersection exceed 44,000 VPD
• Strong access to site with multiple points of ingress/egress and dedicated left hand turn lanes
• Strong population density with more than 139,000 residents radius, and average household incomes of $111,000 within a 5-mile radius of the subject property