CVS

• Recent Lease Extension / Long-Term Commitment – CVS has operated at this location for more than 25 years and recently extended for an additional five-year option period. The lease includes two additional five-year option periods with 3% rental increases at the start of each option period.
• Major Housing Developments – The property is surrounded by multiple sizeable residential developments, including Legacy Homes’ Boardwalk and Swan Woods communities. These two developments alone are expected to bring more than 200 new homes within a few miles of the property.
• Dense Location – Situated on a large 2.42-acre lot at the signalized intersection of Forrest Street and U.S. Highway 31, the property benefits from traffic counts exceeding ±20,790 VPD and estimated annual population growth of nearly 12%.
• Passive Investment – The property is subject to an NN lease with limited landlord responsibilities, providing investors with a relatively passive ownership structure. Please contact the broker for additional lease details.
• Investment-Grade Tenant – The lease is corporately guaranteed by CVS (NYSE: CVS), an investment-grade tenant with approximately 9,135 locations nationwide and an S&P credit rating of BBB.
• National Retail Synergy – The property is surrounded by a strong concentration of national retailers, including Walmart, Lowe’s, and numerous other major brands, reinforcing the strength of the surrounding retail corridor.