The Boulder Group Arranges Sale of Net Leased CVS Pharmacy Property

The Boulder Group Arranges Sale of Net Leased CVS Pharmacy Property

(Northbrook, IL- November 3, 2016 – RealEstateRama) – The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased CVS Pharmacy located at 6820 North Pear Tree Lane in Peoria, Illinois for $4,198,000.

The 10,125 square foot CVS Pharmacy is located just off of the heavily trafficked signalized intersection of West War Memorial Drive and North Big Hollow Road which sees a combined 50,700 vehicles per day. West War Memorial Drive is a primary east-west thoroughfare in the area and a major retail corridor. The CVS Pharmacy is benefitted from strong demographics with over 33,900 people living within three miles with an above average household income of $103,000.

There are 20 years remaining on the recently extended CVS Pharmacy lease that expires August 31, 2036. CVS Pharmacy has successfully operated at this location since 1998 and recently executed a new 25 year lease extension demonstrating their commitment to this location. The CVS lease features five 5-year renewal option periods with 5% rental escalations in each. CVS is a publicly traded company with a market capitalization in excess of $104 billion CVS is an investment grade rated tenant with a Standard & Poor’s rating of BBB+.

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The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds./

Founded in 1997, the firm has arranged the acquisition and disposition of over $2.1 billion of single tenant net lease real estate transactions. In 2010-2014, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago

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