CVS

Brandon Perez (in conjunction with Matthews Real Estate Investment Services, Inc., a cooperating foreign broker for this listing pursuant to Section 535.4(b) of the Texas Administrative Code).

 

• Early Lease Extension – CVS has operated here since 1999and signed a brand new 10 year lease extension in 2024, further showing their commitment to the location
• Huge Sales Figures – Tenant sales north of 13,000,000; showing solid YoY increases. Contact broker for more details
• Long Term Commitment – CVS has just over ±7.5 years remaining on their lease, with three (3) five-year option periods. There are 5% rental increases at the start of each option period.
• Dense Houston Location – Located at the signalized intersection of Antoine Dr. and Pinemont Dr., this corner sees north of ±42k VPD and has a one-mile population of over 20k and over 144k in a three-mile radius.
• Long Term Operating History – CVS has operated at this location for 25+ years.
• Passive Investment – This is a NNN lease, with maintenance, insurance, and taxes being the responsibility of the tenant.
• Investment Grade Tenant – Lease is corporately guaranteed by CVS (NYSE: CVS), an investment-grade tenant that operates around 9,000 stores throughout the country (S&P: BBB).
• Growing Population – The property is surrounded by multiple large-scale apartment complexes and highly dense neighborhoods. Population growth in this area of Houston has seen consistent 6%–7% annual growth.